Firesale: Greece Starts To Sell Its Assets

by Reuters  |  published on April 17, 2015

greekgirlGreece’s privatization agency (HRADF) has invited OPAP to sign a deal next week to acquire the country’s sole license for horse racing betting, the first state asset sale to be completed by the new leftist-led coalition government.

The agency announced in March it would proceed with the sale of the exclusive betting rights to OPAP, the country’s dominant gambling firm, which won the license last year after offering 40 million euros ($43.26 million).

“HRADF… invited the successful bidder, OPAP Ιnvestments Ltd, to sign the concession contract on April 24,” the agency said in a statement on Friday.

Betting on horse racing in Greece had been run by a state-owned group.

Greek Prime Minister Alexis Tsipras told Reuters on Thursday that state assets were one of the thorny issues in talks with the EU/IMF creditors assessing whether the cash-strapped country can get further bailout aid.

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