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Greece: VLTs included in today's proposal

22 June 2015

GREECE -- Today is a nerve wracking day for Greece as Athens engages in last minute attempt to prevent Greece's exit from the Euro and a bank meltdown.

The Greek proposal, circulating in the media and outlining its fiscal measures, included VLTs (Video Lottery Terminals) under the category of other measures.

Today's proposal is Greece's final solution for an EU deal.

A stake of 33 percent in OPAP (gambling firm) was sold to Emma Delta for €652 million, according to a Reuters report in August 2013. This sale subsequently faced an investigation, weeks later, by an Athens prosecutor over transparency and conflict of interest concerns, as was noted in Financial Times report in dated Feb 4, 2014.

OPAP also faced a court challenge from Greek casino operators over its decision to award OPAP an 18-year exclusive license for 35,000 video lottery terminals. Casino operators took their case to the EU general court which ruled against them in January 2015, ruling the awarding of the license did not amount to state aid.

Syriza's Finance Minister had spoken earlier this year of considering online gaming as a potential revenue source. VLTs will create jobs and stop illegal gambling, as well as create tax revenue towards paying down Greek debt.

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