Hellenic Republic Asset Development has signed a 12-year deal with a consortium that includes Scientific Games for exclusive rights to the production, operation, circulation, promotion and management of the Greek State Lotteries.
The consortium, incorporated as Hellenic Lotteries, is principally comprised of Scientific Games, subsidiaries of OPAP and Intralot.
The agreement will cover current, future, instant and passive ticket lotteries, which are conducted using physical tickets that will be sold through traditional outlets, street vendors and through the internet.
Lorne Weil, chairman and chief executive officer of Scientific Games, commented: “We are excited to have a signed concession agreement and to being one step closer to re-launching the instant ticket product in Greece. This consortium provides significant resources in terms of capital, talent and entertaining products to help generate significant incremental revenue for the Greek government and brings world-class lottery products to the people of Greece.”
Scientific Games has a 16 per cent equity interest in the consortium and will have the exclusive responsibility for instant ticket design and production.
In accordance with the deal, the consortium will pay an upfront payment of €190m and will be responsible for a monthly fee equal to a percentage of gross gaming revenues.
In 2011, OPAP generated €4.4bn in total lottery retail sales in Greece, representing approximately €386 in per capita sales, making it the third largest lottery in the world in regards to per capita sales, based on data provided by LA Fleur’s.
