OPAP renews Intralot contract

Greek betting monopoly OPAP has entered into a three-year IT services contract renewal with Intralot, as it prepares for the sale of the Greek State’s 33 percent stake in the business.

While Intralot’s existing contract with OPAP is due to expire in July 2013, the renewal deal is still subject to shareholders approval at a meeting scheduled towards the end of this month.

The sale facilitated by the Hellenic Republic Asset Development Fund selected seven entities and consortia who fulfilled all the necessary criteria towards the end of last year and who are now expected to submit binding financial offers in the next few weeks.

Greece’s share in OPAP is valued at almost Euro 700 million according to its market capitalisation today (Monday), the Reuters report said.

OPAP assured potential investors through a statement “that the firm will continue to operate smoothly after July 30, 2013.”