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

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

Those manufacturers were hoping to provide video lottery terminals throughout Greece, with the games simply times far from a planned play indian dreaming slot launch. But, the Hellenic Gaming Commission announced lottery that is new in the wake of the country’s financial crisis, leaving much uncertainty regarding the short-term future for the industry.

New Regulations Limit Play, Jackpot Size

Each day under the new regulations, daily loss limits were to be added to the machines, and gamblers would be limited as to how much time they would be allowed to play on a machine. Jackpot levels would also be lower under the regulations that are new.

That didn’t sit well with OPAP, the Greek company 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.

Taking a look at the problem realistically, the timing regarding the regulations that are new OPAP’s choice may you should be coincidental, and it’s difficult to see how it would be directly linked to the battle over Greek financial obligation. But it doesn’t imply that the crisis that is ongoingn’t be described as a factor in how a lottery terminal battle is resolved.

‘The wait doesn’t always have such a thing to do with the current debt crises other than possibly OPAP playing hardball with the regulators hoping because they need the new tax revenue,’ said Todd Eilers of Eilers Research that they will cave.

IGT, Scientific Games Could Lose Income

If this is simply a negotiating tactic on the element 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, as well as the delays may potentially price those two businesses millions in income.

IGT was awarded a vendor contract to provide 5,500 lottery devices, while Scientific Games was slated in order to make 5,000 machines for the market. Two European manufacturers, Inspired Gaming and Synot, had been also awarded vendor that is first-phase.

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

The delays and also the economic crisis have certainly brought some uncertainty to your Greek video clip lottery terminal market, but Eilers says that in the long term, Greece should still be a profitable marketplace for manufacturers.

‘We nevertheless think the VLT market will go forward and represents a sizable growth possibility for vendors,’ he said.

The negotiations over the ongoing future of Greece’s lottery terminals comes at a right time when much larger battles are being waged over the nation’s financial future.

Greeks voted ‘no’ on the strict lending terms made available from international creditors on Sunday, with more than 61 percent of voters being released contrary to the terms.

But that vote does not mean that Greece isn’t willing to negotiate. Prime Minister Alexis Tsipras claims that the Greek government is still ready to make some changes in order to receive the help of Europe, and requested a loan that is three-year the eurozone’s bailout fund on Wednesday.