The competitive tender for the exclusive, long-term rights to operate Greece's portfolio of State Lotteries has drawn formal interest from two major players,
The competitive tender for the exclusive, long-term rights to operate Greece’s portfolio of State Lotteries has drawn formal interest from two major players, setting the stage for a significant battle between the country’s dominant incumbent and a formidable international challenger.
The Hellenic Corporation of Assets and Participations (HCAP), also known as Growthfund, which is managing the tender on behalf of the Greek state, announced last week that it had received expressions of interest from OPAP Investment Limited and Brightstar Global Solutions Corporation. The successful bidder will gain the exclusive right to produce, operate, and manage all of Greece’s state-run lottery products for at least a decade.
OPAP’s interest was widely expected. As the established, near-monopolistic force in the Greek market since its formation in 1958, OPAP already holds the exclusive rights for numerical lotteries, retail sports betting, and horseracing in the country. The publicly listed company, which also has operations in Cyprus, is a giant of the Greek economy and will be looking to defend its home turf and maintain its comprehensive control over the nation’s gaming landscape.
Facing the incumbent is Brightstar Global Solutions Corporation, a powerful international entity. Brightstar operates IGT Italy, one of the largest and most sophisticated lottery operations in the world. Its global footprint is further bolstered by partnerships with major US state lotteries, including those in Indiana and New Jersey. Backed by the vast experience and technology of IGT, Brightstar represents a highly credible and well-resourced challenger, capable of mounting a serious bid.
The submission of interest marks the conclusion of the tender’s first phase. HCAP will now evaluate the submitted dossiers to ensure both parties meet the pre-selection criteria. Qualified candidates will then be invited to the second phase, where they will submit binding financial offers.
The licence itself is one of the most significant public gaming contracts in Europe. It covers the full suite of state lottery products, including the Instant State Lottery, the Housing State Lottery, and the Popular Lottery, among others. The contract will take effect upon the expiration of the current agreement, held by Hellenic Lotteries S.A., and will have a minimum duration of ten years. The successful outcome of this initial phase, attracting a contest between a domestic powerhouse and a global leader, will be seen by the Greek government as a positive step towards maximising value for the state.
