Greece’s ongoing monetary crisis and standoff with European leaders might have repercussions that impact the international economy.

That effect extends even to your gaming industry, as Greece’s tries to avoid defaulting further on its debts may prove high priced to companies like International Game Technology (IGT) and Scientific Games.

Those manufacturers were hoping to offer movie lottery terminals throughout Greece, with the games simply times away from a launch that is planned. Nevertheless, the Hellenic Gaming Commission announced brand new lottery regulations in the wake of the country’s economic crisis, leaving much uncertainty regarding the short-term future associated with the industry.

New Regulations Limit Play, Jackpot Size

Under the latest regulations, daily loss limits were to be added to your devices, and gamblers could be limited as to how much time they might be allowed to use a machine each time. Jackpot levels would also be lower under the new regulations.

That didn’t sit well with OPAP, the Greek firm that operates the video lottery terminal network. The company said that the new regulation would make operating the terminals ‘no longer viable,’ and immediately stopped the deployment of 16,500 machines throughout the country in a statement.

Looking at the specific situation realistically, the timing of the regulations that are new OPAP’s decision may you need to be coincidental, and it is hard to observe how it is straight linked to the battle over Greek debt. But that does not signify the crisis that is ongoingn’t be considered a factor in how a lottery terminal battle is resolved.

‘The delay doesn’t have anything related to the current debt crises apart from maybe OPAP playing hardball with the regulators hoping that they will cave because they need the brand new tax revenue,’ said Todd Eilers of Eilers analysis.

IGT, Scientific Games Could Lose Income

If that is simply a tactic that is negotiating the section of OPAP, it could be a costly one for slot machine manufacturers like IGT and Scientific Games. Both of those companies were terminals that are producing the Geek market, therefore the delays may potentially price those two businesses millions in income.

IGT was granted a vendor contract to give 5,500 lottery machines, while Scientific Games ended up being slated to produce 5,000 machines for the market. Two European manufacturers, Inspired Gaming and Synot, had been also awarded first-phase merchant contracts.

IGT was likely to make up to $30 million in annual revenues through the machines provided to Greece, while Scientific Games could generate just as much as $27 million.

The delays and the crisis that is financial certainly brought some uncertainty towards the Greek movie lottery terminal market, but Eilers says that in the long run, Greece should nevertheless be a lucrative market for manufacturers.

‘We nevertheless think the VLT market will move forward and represents a growth that is sizable for vendors,’ he stated.

The negotiations over the continuing future of Greece’s lottery terminals comes at a right time whenever bigger battles are being waged over the nation’s monetary future.

Greeks voted ‘no’ on the lending that is strict made available from international creditors on Sunday, with over 61 percent of voters being released against the terms.

But that vote does not mean that Greece isn’t ready to negotiate. Prime Minister Alexis Tsipras says that the Greek government continues to be ready to make some alterations in order to receive assistance from Europe, and requested a three-year indian dreaming slot app loan from the eurozone’s bailout fund on Wednesday.