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The HRADF selected Intralot and 2PU

The Hellenic Republic Asset Development Fund (HRADF) in Greece has announced that two bidders have been selected to move on to the second phase of the process that is to award the exclusive right to organise and operate wagering on the nation’s horse races for the next 20 years.

HRADF was established in 2011 to manage the privatisation programme for some of Greece’s state-owned entities and launched a competitive tender process in early-March before subsequently setting April 26 as the final deadline for submissions.

Currently managed by the Hellenic Horserace Betting Organisation (ODIE), the privatisation of wagering on Greek horse races follows another high-profile programme that recently saw Emma Delta secure a 33 percent stake in the European nation’s OPAP gaming monopoly.

HRADF stated that proposed operators Intralot Limited and 2PU Societe par actions simplifiee have been put through to ‘phase B’ of the tendering process while it additionally qualified eight investors to participate in the second stage of the process for the sale and leaseback of 28 buildings currently occupied by the government.

“The candidates are strong investment groups from Greece, the United Kingdom, the United States, Luxembourg and Cyprus and will receive phase B tender documents,” read a statement from HRADF.