BUSINESS

OPAP bidders down to seven; Codere signs Hercules; Coral and ESPN enter partnership

TAGs: Codere, Coral, Hellenic Republic Asset Development Fund, hercules, Intralot, OPAP, Playtech

opap codere coralGreece’s Hellenic Republic Asset Development Fund (HRADF) failed to approve just one of the bidders in the running for a 33 percent in state gambling operator OPAP. The process, which has been running for some time, now moves onto the next stage with the following all still in the process: BC Partners, Emma Delta Ltd, Consortium of Gauselmann AG (55%), Playtech Ltd (41%) and Helvason Ltd (4%), Consortium of Intralot Holdings Luxemburg S.A. (34%) and Intralot Investments Ltd (66%), Primrose Treasure Limited, Third Point LLC, TPG Capital. The one to have already dropped out of the process is Triple Five World Group Properties as the advisors examining applications probably realized that Triple Five didn’t equal the most money available for the country. They’re hoping that one of the remaining seven could pay as much as €1.5billion for the stake in a company that currently enjoys a significant monopoly in the country.

Spanish betting firm Codere has signed a one-year sponsorship deal with Alicante-based club Hercules. The agreement, which runs for the remainder of the 2012-13 season, will see Codere’s logo on the back of the side’s strip as well as various other sponsorship opportunities around the club’s stadium and fan clubs. It’s the company’s second such deal with a Spanish club and their hope is that it will help its Codere Apuestas brand to grow even further in the Valencia region.

British bookie Coral has signed a deal to become sponsor of ESPN UK’s coverage of European football. From the start of December the bookie will sponsor matches from Serie A, the Bundesliga, Eredivisie and Ligue 1 and also benefit from online content on ESPN.co.uk and ESPNFC.com – the company’s worldwide media football initiative. Coral told RapidTVNews that it was a “major coup” for the company and that the brand is “outstanding”.

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