SBC News Voice of the Sports Betting Industry
Intralot Group Chairman Socrates Kokkalis is preparing to spearhead the creation of the Greek National Lottery. Intralot confirmed that Kokkalis had submitted a business proposal to the Hellenic Minister of Finance Yanis Varoufakis.
Addressing the Intralot Group Annual General Meeting (AGM) Kokkalis has outlined that the Greek National Lottery should be owned by the State but operated by a private contractor. Provisions and services for the Greek National lottery would have to be pitched to the government and its advisory team.
The Intralot Chairman firmly believes that a public/private lottery partnership would be the most efficient method to run an effective lottery which would raise money for charitable causes in Greece.
This would represent a move away from Greek Gambling’s current Monopoly led gambling framework.
Kokkalis further commented on the matter
“According to industry estimates internationally, the fee for the concession of such a license may range from €100 to €250 million for a period of 10-20 years, while the annual revenues for the state could amount to as much as €500-€600 million, including other additional side benefits.
“The winning bidder could assume any costs of eventual litigation from legal claims against the establishment of the National Lottery potentially made by the private monopoly”
