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Privatization of state-controlled gambling operators
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Only hype or a reality in the near future?
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Detailed industry report analyzing one of the most
relevant and controversial issues of state shareholders in the gambling industry.
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Hard-to-control Internet gambling offers and the
intensive debate about increasing liberalization make life difficult for state-controlled operators.
Although they recently won some “battles”, according to many experts business will not get any easier for
them, and the value of state-controlled operators will probably decrease rather than increase in the
future.
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This fact combined with tight budgets might lead a
growing number of state shareholders to see the regular contributions to state budgets in jeopardy and
prompt them to consider privatizing their gambling operations as soon as possible. Indeed, recent and
current privatizations, such as those of the Greek OPAP and the UK tote, show that this is not just idle
speculation. Furthermore 73% of the experts surveyed expect that the number of privatized state gambling
operations will continue to increase in the near future.
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But what exactly are the advantages and disadvantages
of privatizing the gambling sector besides filling up state coffers? Many complex issues have to be
analyzed closely in advance, for example:
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- Are state-controlled companies really inferior and
inefficient compared to private operators? While some state-controlled operators, such as German
WestLotto, work even more efficiently than some privatized companies, others are indeed far more
inefficient.
- How could a privatized operation be regulated to
prevent excessive gambling or other negative side effects?
- What are state-controlled gambling operators worth
and how could they be valuated meaningfully since the number of examples to refer to is limited.
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The report addresses primarily state shareholders and
provides an objective analysis of all relevant issues as well as firsthand information about possible
options for privatization and their implementation. The results are based in part on a survey of more than
90 industry insiders who offered their unique insights. The report is coauthored by many renowned experts,
among them the investment bank Sal. Oppenheim and industry insiders such as Rob van der Gaast and Wulf Hambach.
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View Brochure and Table of Contents
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