Intralot and OPAP in 5-Year Agreement, Emma Delta Still Running for Acquisition

On July 8, INTRALOT announced the signing of a five-year IT contract with the Greek state-owned gambling monopoly OPAP.

There are two parts of the contract - the implementation segment and a service agreement; the agreement signed for the provision of maintenance and technological support services of OPAP agencies’ infrastructure will be activated once the new central system contract begins, and it will last for two years with three one-year renewal options.

In addition, INTRALOT has also signed an extension to its current contract with OPAP S.A. until the new system is functional.

On the other side, the implementation contract includes the commissioning and installation of the infrastructure, software and other services in order to go live with live operations and user licenses for Greece and Cyprus within the agreed time-frame of seven months.

The total worth of the agreement (implementation plus service part) amounts to Euro 101 million, whereas the value of the agreement for the provision of the maintenance and technological support services of OPAP agencies’ infrastructure is worth Euro 46 million for the first two years declining by Euro 1 million per annum for each subsequent annual extension.

Over the weekend, Consortium Emma Delta confirmed that it is still on the acquisition trail for 33% of OPAP, thus put rumor to rest that it has withdrawn.

According to Emma Delta spokesperson Jiri Smejc, conditions involving a possible conflict of interest tied to the instant lottery contract with INTRALOT and Scientific Games may be revisited at a later stage, but at the moment, the group expects the privatization deal to be concluded in September.

Smejc explained: “That would not cause any delay in the privatization process. I don’t see any immediate or significant risk that would delay or block the deal. We don’t want to change any conditions in the OPAP privatization. We expect the management of OPAP in the interim period to adhere to international best practice.”

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