Could Greece Introduce a National Lottery?
Last Updated: Friday 22nd May 2015, 14:57
Greek gaming company Intralot has confirmed that it has submitted plans to the country’s Minister of Finance for a brand new National Lottery. The proposal would see the rights to the game being owned by the state, but with private contractors vying for tenders to run it.
Speaking to Intralot’s Annual General Meeting, chairman Socrates Kokkalis said that he had been in contact with Finance Minister Yanis Varoufakis to express his opinion that any public/private lottery would be able to raise vast sums for Greece’s charities, whilst also boosting the state’s threadbare coffers to the tune of between €500 million and €600 million per year.
Greek national finances have suffered greatly since the global economic downturn, with tense negotiations still ongoing between the country’s government and its Eurozone creditors over the terms of its bailout. It is reported that the Greek economy is losing €22.3 million a day, with over 600 jobs being wiped out in the same timeframe, so any measure that can bring funds and potential employment opportunities to the nation would be very welcome indeed.
Greece currently has a gaming monopoly, with the Greek Organisation of Football Prognostics (OPAP) operating all betting within the country whilst vowing to fight illegal wagering and associated criminal activity. International companies like William Hill and Sportingbet have challenged the monopoly, but have thus far been unsuccessful. It remains to be seen whether any Greek National Lottery would infringe OPAP’s rights and what its reaction would be.
The business plan for the lottery has been submitted, so keep an eye on the news section of National-Lottery.com for updates as they happen.