The bidding process for the non-exclusive right to conduct horse races and for the exclusive right to conduct mutual horserace betting in Greece for 20 years has been concluded.
OPAP Investments Ltd, a 100% subsidiary of OPAP SA was proclaimed the preferred successful bidder in September 2014, after submitting the highest bid of € 40,501,000 in the relevant process conducted by HRADF.
The Concession Agreement between HRADF and Horse Races SA, a special purpose company established by OPAP Investments Ltd was signed on the 24th of April 2015, was ratified by the Greek Parliament on the 23rd of October 2015 (N. 4338/2015) and entered into force on the 8th of January 2016. The first races held by the new Concessionaire took place on the 22nd of January 2016.
At the same time, Horse Races SA leased the racecourse and other facilities at Markopoulo from ODIE SA, for a period of 20 years and for a monthly lease of € 210.833.
ODIE SA, which was previously the holder of the exclusive right to conduct horse races and conduct mutual horserace betting in Greece entered into liquidation on the 21st of December 2015, pursuant to Article 13 par. 7 (f) of Law No. 4111/2013 and following the provisions of Law No. 4338/2015.