OOPPAAPP,, IIn­nt­tr­raal­loott oonnl­lyy bbi­id­dddeerrss ffoorr hhoorrssee rraacci­in­ngg

Financial Mirror (Cyprus) - - FRONT PAGE -

Only two bids have been sub­mit­ted to the pri­vati­sa­tion agency HDRAF for the horse race bet­ting li­cence after scrap­ping a pre­vi­ous ten­der last month due to a lack of suf­fi­cient in­ter­est.

The agency said re­cently pri­va­tised bet­ting gi­ant OPAP in a joint ven­ture with a Bri­tish fund man­ager and gaming sys­tems de­vel­oper In­tralot sub­mit­ted bids for a 20-year li­cence.

HDRAF said its board would con­vene this week to de­cide on the va­lid­ity of the of­fers and the rec­om­men­da­tion of the fi­nan­cial ad­vis­ers.

The pri­vati­sa­tion agency scrapped the ten­der last month after get­ting just one of­fer from In­tralot that was con­sid­ered un­sat­is­fac­tory.

Horse race bet­ting is cur­rently run by a group called ODIE, which re­ported a net loss of 23.4 mln euros in 2012.

The gov­ern­ment wants euros from pri­vati­sa­tions aim­ing for 1.5 bln from state di­vest­ments this year, down from an ini­tial tar­get of 3.6 bln euros.

OPAP has said its joint bid with the UK’s Global Fam­ily Part­ners would be no less than 40 mln euros, far more than the 5.2 mln ini­tially of­fered by In­tralot.

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