Greece's OPAP says may cut 2010 dividend payout

ATHENS, June 16 (Reuters) - Greece's OPAP, Europe's biggest betting firm, said on Wednesday it may lower its dividend payout for 2010 fiscal year to preserve cash and expand operations.

The firm, 34-percent state owned, has been paying out about 95 percent of its net earnings. OPAP paid a 1.75 euro dividend per share on 2009 profit.

'...this year we will be looking at our dividend policy very intensively, because we may need to use a lot of equity capital, as we are thinking of entering a series of new activities,' OPAP's Chairman Haris Stamatopoulos told reporters.

He said OPAP had not reached a final decision yet.

Debt-ridden Greece said on Tuesday it would soon release a draft bill to lift a ban on low-price gaming machines and Internet betting in a bid to raise government revenues as it scrambles to shore up public finances.

The government has earmarked about 1.3 billion euros in proceeds from betting licences and royalties over the next three years as part of a 110 billion euro EU/IMF bailout.

OPAP reiterated it would bid for a licence for gaming machines whenever the government launches a tender and said it was also talking with numerous systems vendors, including Intralot, to secure the necessary technology ahead of the possible opening of internet betting in Greece.

OPAP's has suffered serious revenue losses from online gambling competitors. Although currently illegal in Greece, the market is estimated between 3.5 to 5 billion euros.

(Reporting by Angeliki Koutantou; editing by Elaine Hardcastle) Keywords: GREECE OPAP/ ([e-mail]; [phone]; Reuters Messaging: [e-mail]) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.