News of the Greek debt crisis seems to worsen every day. Despite a shoddy approach at a referendum, the Greeks maybe onto something with a new lottery license tender that maybe, just maybe, lift the country (at least slightly) from its massive money troubles.

The Hellenic Republic Asset Development Fund is a newly established organization with the responsibility of managing the country’s privatization program. The goal of this program is simple: to pay down the budget deficit that has negatively impacted the country (as well as the world) over the past year.

Most recently, the tender process has been launched to award the licence to operate the Hellenic Lotteries for a period of 12 years.

With the exclusive right to manage the Hellenic Lotteries, the winner of the licence will be responsible for the following: the Popular Lottery, the National Lottery, the Scratch/Instant Win Lottery, the European Lottery, the New Year’s Lottery, and the Housing State Lottery.

The Hellenic Republic Asset Development Fund is considering experienced Greek gaming operators, including those working alone or in cooperation with another.

The first step of the process calls for potential bidders in Greece to submit all appropriate documentation including financial, technical, and legal proof. The Hellenic Republic Asset Development Fund has set the deadline for the first step at 17:00 Greece time on November 29, 2011.

Those who meet the qualifications specified in step one will be invited to the second stage, during which binding offers are submitted.

It is the hopes of the Hellenic Republic Asset Development Fund, as well as the entire country of Greece, that this lottery licence will bring the debt crisis to an end – or at the very least lend some much needed financial assistance.

Read more about the state of the Greek gaming landscape here.

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