Casino News: Greek government has secured Euro 300 million loan

Greek government has secured Euro 300 million loan

 November 24, 2011, 8:44 am (7 years ago)
On Tuesday, CEO of OPAP, Europe's biggest betting company said that Greek government has secured a loan of up to Euro 300 million for business expansion. This month, debt-free company requires the loan after spending approximately Euro 475 million, for acquiring an exclusive license of videolotto from Greece government, as revealed from the reports of news agency Reuters. At the starting of December, this will give additional Euro 375 million for renewing its betting monopoly to 10years to maximum 2030.

CEO Yannis Spanoudakis stated that they have finalized an unsecured facility of Euro 300 million with the Greek banks. Since foreign lenders are unwilling to lend Greek companies because of the economic crisis au Euro zone, so the banks, which are leading are National Bank of Greece, Emporiki Bank, Hellenic Postbank and EFG Eurobank. CEO further stated that OPAP still had been considering increasing the money in foreign markets, for getting higher security, although at very high cost.
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