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

That effect extends also to the gaming industry, as Greece’s attempts to avoid defaulting further on its debts may prove costly to businesses like Global Game Technology (IGT) and Scientific Games.

Those manufacturers were hoping to provide video lottery terminals throughout Greece, using the games just days away from a launch that is planned. Nevertheless, the Hellenic Gaming Commission announced lottery that is new within the wake for the nation’s financial crisis, leaving much uncertainty as to the short-term future of the industry.

New Regulations Limit Enjoy, Jackpot Size

Under the new regulations, daily loss limits were become included with the machines, and gamblers would be limited as to how long they would be allowed to play on a machine every day. Jackpot levels would additionally be lower under the regulations that are new.

That didn’t sit well with OPAP, the Greek company that operates the video lottery terminal community. In a statement, the business stated that the new regulation would make operating the terminals ‘no longer viable,’ and immediately stopped the deployment of 16,500 machines through the entire country.

Evaluating the specific situation realistically, the timing of the regulations that are new OPAP’s decision may just be coincidental, and it’s hard to see how it will be directly related to the battle over Greek debt. But that doesn’t signify the ongoing crisis won’t be considered a factor in the way the lottery terminal battle is resolved.

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

IGT, Scientific Games Could Lose Revenue

Should this be just a tactic that is negotiating the part of OPAP, maybe it’s an expensive one for slot machine game manufacturers like IGT and Scientific Games. Both of the companies were creating terminals for the Geek market, and the delays may potentially price those two businesses millions in revenue.

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

IGT was expected to make up to $30 million in yearly revenues through the machines offered to Greece, while Scientific Games could generate as much as $27 million.

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

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

The negotiations on the future of Greece’s lottery terminals comes at a right time when much larger battles are increasingly being waged throughout the country’s economic future.

Greeks voted ‘no’ on the lending that is strict offered by international creditors on Sunday, with over 61 percent of voters coming out against the terms.

But that vote doesn’t mean that Greece isn’t ready to negotiate. Prime Minister Alexis Tsipras says that the Greek federal government is still prepared to produce some changes to be able to get assistance from Europe, and requested a three-year loan from the eurozone’s bailout investment on Wednesday.