Playtech-Gauselmann team opted out of Greek gambling bid

Yesterday’s announcement of two final bidders for the Greek gambling monopoly OPAP has triggered comment on the absence of the Playtech-Gauselmann consortium, which had indicated interest in the earlier stages.

The Greek government has put its 33 percent stake in the Euro 2.2 billion monopoly up for sale as part of its privatisation drive to raise funds for the cash-strapped and debt-burdened economy.

HRADF, the Greek privatisation body, yesterday named Emma Delta and US investment fund Third Point as the final bidders in the process, and committed itself to unsealing the bids and announcing the winner at its next meeting.

Bedevilled by high taxation proposals, a slew of court cases and European Commission compliance problems. OPAP has proved less attractive to the investment and gambling business market than the Greek government would perhaps have liked.

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