The draft law submitted by the Ministry of National Economy and Finance was passed by a majority vote “Ratification of the Concession Agreement dated February 24, 2026, granting the exclusive right to produce, manage, operate, promote, and generally exploit state lotteries between the Greek State and ‘Hellenic Lotteries—Production, Operation, Distribution, Promotion, and Management of Lotteries Single-Member Public Limited Company" by the Committee on Economic Affairs and will be introduced for debate and vote in the plenary session tomorrow.
The New Democracy party voted "in favor" of the bill in principle, while SYRIZA and the KKE voted against it; PASOK-KINAL, New Left, Niki, and Freedom Course reserved their positions for tomorrow’s debate in the plenary session.
Deputy Minister of National Economy and Finance Giorgos Kotsiras, concluding the committee’s hearing with stakeholders, announced that “the government will very soon introduce a legislative initiative to combat illegal gambling, with a framework that will respond to the needs and conditions of the new era.”
Deputy Minister of National Economy and Finance Thanos Petralias, concluding the committee’s discussion of the articles regarding the contract, highlighted the positive comments made by the stakeholders. He noted that the projections for the 2013 tender were overestimated, as the business plan had predicted that state lotteries would generate €4 billion in revenue over the 12-year period, whereas the actual figure was €1.5 billion. The lottery market, he said, “continues to decline due to falling demand and revenues, and obviously due to tax developments.”
Specifically, Mr. Petralias noted that gross revenue from state lotteries has decreased by 32% compared to previous years. The valuation of the fair price, the deputy minister said, was conducted by independent third-party appraisers hired by the Superfund. The Superfund requested an increase in the bid from the contractor, and it was granted. The tender was conducted under strict criteria, and we received the maximum amount the State could obtain, he said, adding that a month ago the government announced additional taxation on online gaming to boost citizens’ income.
The positions of the stakeholders
Earlier, during the stakeholder hearing, the stakeholders invited to testify before the committee gave a positive assessment of the contract. Specifically:
The Deputy CEO of the Hellenic Corporation of Assets and Participations S.A. (Superfund), Panagiotis Stamboulidis, stated that the Superfund conducted a two-phase international open competitive bidding process on behalf of the State. He noted that the Superfund launched the first phase of the tender on June 18, 2025; there was more than one bid, but following the evaluation of the required formal documentation, the company that proceeded and was declared the provisional contractor was OPAP.
During the second phase of the tender, OPAP was invited to submit an improved version of its initial bid and offered a price of 80 million euros, which was accepted by the Board of Directors of the Superfund. The Court of Auditors conducted a pre-contractual review of the agreement and ruled that there were no obstacles to the concession contract.
Mr. Stamboulidis noted that the assessment of the reasonableness of the price was conducted not only by an independent consultant but also by KOEEX, which institutionally reinforces the role of the Superfund’s Board of Directors on behalf of the institutions.
Responding to questions from members of parliament, he clarified that the conduct of the tender has no connection to other companies that the Superfund holds in its portfolio. The two-phase international open tender process that was followed enhances transparency. The exclusion of the second company that expressed interest in the first phase of the call for bids occurred, as he explained, because it failed to submit a complete application to advance to the second phase of bidding.
He pointed out that the Superfund, regardless of the price offered by a bidder—even if it exceeds the valuation—requires an improvement. Regarding the reasonableness of the valuation, he attributed it to the decline of the lottery market relative to online gaming and cited relevant economic data. She emphasized that this contract does not grant the contractor the right to create an electronic lottery, nor does it preclude the government from commissioning such a product from a third party in the future.
Nektaria Douliannaki, an advisor to the Court of Auditors, stated that the pre-contractual audit had been conducted. This is a legality audit; that is, it does not extend to the appropriateness of the Superfund’s management decisions, nor does it substitute for its technical or financial judgments. In this context, the Court of Auditors did not examine whether the selected bid was the most advantageous or whether the business model was the most efficient.
Regarding the price, what was examined was whether a lawful and reliable valuation process had preceded it. Regarding the difference in the valuation from that of 2013, the Court of Auditors’ consultant noted that it was examined whether it was based on objective data and sufficient justification.
Essentially, the audit concerned the existence of a legal basis for the concession, compliance with the competitive bidding process to ensure transparency, equal treatment, and fair competition, as well as the adequacy of critical administrative acts. This ratification of the contract, Ms. Douliannaki said, is based on a “specific and clear legal foundation, ” the tender was conducted with sufficient transparency, and the exclusion of the second company that participated in the first phase was justified due to “deviations from explicit terms of the call for bids.”
Regarding the financial consideration, the Court of Auditors’ advisor noted that “the independent appraiser had estimated it within a range of €64.17 million to €75.35 million, the initial bid was submitted at €75 million and was subsequently improved to €80 million, i.e., an amount higher than the upper limit of the valuation. "The terms ensure control by the State and the Hellenic Gaming Commission," he concluded, adding that "therefore, this is a lawful provisional concession of the right, with the State retaining final control."
The president of the National Gaming Supervision and Control Commission (EEP), Antonis Vartholomaios, stated that “state lotteries have a traditional character and are a timeless element of our society and the economic life of our country.” He emphasized that “the new contract largely preserves the form and philosophy of these products, modernizes their operation without altering the traditional player experience, and preserves the physical wholesale and retail network, supporting small and micro-enterprises while maintaining the social dimension of participation.”
This contract, said the president of the Hellenic Gaming Commission, “provides long-term revenue stability for the State in a mature but sensitive sector,” while for the gaming market , “it reduces the scope for the growth of illegal or unregulated gambling activities and creates conditions for investments in technology and distribution networks that improve the system’s operation and security.” The Hellenic Gaming Commission (HGC) fully retains its supervisory and regulatory role and its certification of operations through standards. Mr. Bartholomew described this agreement as “institutionally safeguarded in the public interest, with strong oversight and respect for the long tradition of state lotteries,” while, in response to questions from members of parliament, he acknowledged that OPAP emphasizes responsible gaming policies and strategies and maintains very high standards.
OPAP’sDeputy CEO and member of the board of directors of Hellenic Lotteries, Odysseas Christoforou, for his part, stated that “a new era is beginning for state lotteries. The contract ensures the continuity of the state lottery market as well as the completeness of our gaming portfolio. It generates revenue for approximately 3,000 agents in our network, 1,300 lottery retailers, as well as thousands of small retail outlets throughout Greece, such as kiosks and mini-markets. This also significantly boosts commercial activity in small businesses and local markets.”
Mr. Christoforou stated that he is open to innovative proposals for using technology to revamp the games based on players’ needs and expectations. Regarding the contract’s provisions, he said that they safeguard and enshrine the public interest, the strong supervisory and regulatory role of the Hellenic Gaming Commission (HGC), and impose robust safeguards regarding commercial communication, product quality and safety, as well as player protection.
Mr. Christoforou focused on the social return of lotteries, both from the government’s perspective and through undistributed profits directed toward social causes, as well as the fact that, for the first time, there is a provision allowing for either special draws or special social-purpose issues, where the proceeds can be used for emergency social needs, with the aim of supporting those affected, as well as to support sports clubs supervised by the General Secretariat of Sports.
OPAP’s Deputy CEO also referred to the initiatives and actions the group has developed as part of its corporate social responsibility efforts, such as pediatric hospitals and the renovation of the Metaxas Cancer Hospital. Mr. Christoforou also emphasized the fight against illegal gambling.
The president of the Panhellenic Federation of Professional Betting Agents ( OPAP), Georgios Poulimas, called on the parties to support the ratification of the contract, stating that “we believe it is beneficial for all parties involved.” He highlighted the historic social role of lotteries and added that prior to the 2013 contract “there was a visible risk that lottery tickets would be discredited and disappear from our daily lives.” The previous contract, he added, “led to the survival of lottery tickets, and OPAP’s retail outlets played a significant role.”
Mr. Poulimas pointed out that “with the new concession, we can move forward with confidence into the future,” emphasizing that “for us agents, lottery tickets represent revenue that contributes to our sustainability; it is not our main source of income, but it is revenue that helps us, especially during this period when we are facing new inflationary pressures.”
"Stability and predictability are key factors for our thousands of small and, as a rule, family-run businesses," he said, describing “government revenue” as “very important, ” while emphasizing that the network of agents is the most important factor in combating illegal gambling. Responding to questions from lawmakers, Mr. Poulimas highlighted the rise of online gambling and the shift in players’ mindset toward online games rather than lotteries. He expressed his satisfaction that the new contract does not provide for the existence of an online lottery.
The president of the Panhellenic Association of National Lottery Agents, Konstantinos Zygouras, stated “the clear and full agreement of our sector on the new state lottery concession contract,” adding that “in our view, this is an agreement that is beneficial both to the State and to our professional sector.”
Mr. Zygouras described as “imperative the need to re-concession to "Hellenic Lotteries SA," which belongs to the broader OPAP group, as it has an extensive network of approximately 3,000 agencies throughout Greece that in previous years made the promotion and sale of lottery tickets possible."
He pointed out that “the number of lottery agents has decreased significantly in recent years, and without the OPAP network, the distribution of lottery tickets would be nearly impossible, posing an immediate risk that the program could not be implemented.”
Under the agency network, he said, “approximately 1,300 lottery agents are active throughout the country.” He expressed satisfaction with the support the company has shown over the past 12 years, stating that “it has stood by our sector in practice, collaborated with us to ensure the sustainability of lottery agents by paying their commissions on time, supporting their insurance coverage, contributing to the smooth payment of insurance premiums, and substantially boosting sales promotion.”
Responding to questions from members of parliament, he said that in 2014 there were 120,000 agents and 8,000 lottery agents, while today there are 40,000 agencies and 1,300 lottery agents. He argued that if the state-run lotteries had remained under public ownership, all 40,000 agents would have gone bankrupt, as the Greek Lotteries offer greater flexibility in commission payments.
The president of the Association of Professional OPAP Agents of Attica, Argolis, Corinthia, and the Cyclades, Spyros Drakopoulos, attributed the fact that there was only one interested party to “the limited business interest presented by the lottery market” and added that, under no circumstances, “lotteries are not the ‘golden goose’ for OPAP, as some say. If there were financial interest, we would have interest from many companies; have no doubt about that,” he said.
Mr. Drakopoulos, among other things, emphasized his policies on responsible gaming as well as the crackdown on illegal gambling and stated he is open to cooperation with the government on the bill it is preparing.
SOURCE: APE-MPE