At first glance, it appeared the Greece financial crisis had dipped into the country’s lottery network. Instead, the Greek company that operates the nation’s lottery implemented what one analyst called “a hard-nosed negotiation tactic” to extract more favorable contract terms after Greece’s Hellenic Gaming Commission announced new lottery industry regulations. But the move hits the bottom lines of Nevada’s two largest slot machine manufacturers, costing Scientific Games Corp., and International Game Technology millions of dollars in revenue and cash flow. “These were sizable business opportunities for both IGT and Scientific Games,” said Eilers Research principal Todd Eilers. Ultimately, Eilers expects…

iGaming Business – Greek gambling monopoly OPAP has reported better-than-expected results in the second quarter despite having been hit by a retroactive tax bill of €21.6 million ($28.5 million) in the period. The bill dates back to the 2010 fiscal year in which the firm had amounted tax charges of €29.6 million, with the operator having only paid €9 million of the total bill so far. After agreeing a deal with the Greek government to delay payment of the remaining balance until the second quarter of this year, OPAP must now complete full payment by the end of the quarter….

iGaming Business – Greek gambling monopoly OPAP has cited the introduction of a new gross gaming revenue tax in the country as the reason behind a significant drop in net profit during the 12 months to December 31, 2013. The new 30% tax on gross gaming revenue for companies in Greece meant OPAP’s net profit totalled just €141.1 million ($194.7 million) in 2013, a 72.1% drop on the €505.5 million achieved in the previous year. Full-year revenue also fell 6.6% from €4 billion in 2012 to €3.7 billion in the last 12 months, while gross gaming revenue dropped 6.3% to €1.2…