Greek Intralot's Inteltek unit wins legal protection for Turkish betting deal |
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Published
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Fri, 23 Feb 2007 10:28
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ATHENS (AFX) - Greek betting technology company Intralot said the Turkish Parliament has approved legislation to preserve the contract its unit Inteltek has with the state betting organisation Spor Toto to run its profitable fixed odds betting game Iddaa in the country.Intralot said the legislation, which has yet to be approved by the President of the Turkish Republic, preserves Intelteck's existing contract until a new tender process is launched by Spor Toto.Analyst Nikos Lianeris of Proton Bank said the development 'eases the uncertainly that burdened Intralot's short-term share price performance'.He said that assuming the new tender is launched in around a year's time, and taking into account the length of the tender process, it seems that even under the worst case scenario Intralot will not lose its business in Turkey for at least two and half years.At 11 pm Intralot was up 3.8 pct to 27.2 eur, while the ASE genaral index was flat at 4,770.4 points.Source: Euro2day.gr NewsWireskrekas@euro2day.grns/harCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Greece's Intralot receives unfavourable interim decision in Turkish court case 