Wed May 1, 2013 6:00am EDT
* Emma Delta sole bidder for a 33 pct stake
* Czech-Greek fund initially offered 622 mln euro
* Had until May 1 to improve bid
* Privatisation agency to meet 1100 GMT to decide on offer
ATHENS, May 1 (Reuters) - Investment fund Emma Delta has met Athens' demand to raise its offer for a stake in gambling monopoly OPAP, sources said, meaning Greece could seal its first big privatisation as early as May 1.
Athens needs to wrap up the sale to show it is finally making good on long-promised efforts to sell off state assets and cut debt as demanded by its European Union/International Monetary Fund bailout.
The Czech-Greek fund, sole bidder in the race to buy a 33 percent stake and management rights in OPAP, raised its offer to 650 million euros, officials involved in the sale told Reuters.
Another official directly involved in the process said that Athens was now ready to close the deal.
"Barring any surprises, we'll clinch it today", the Greek official told Reuters on condition of anonymity.
The fund initially offered 622 million for Greece's most profitable firm but Athens gave it until Wednesday to improve its offer to at least 650 million as it sought to keep the sale process on track.
Emma Delta is controlled by Czech investor Jiri Smejc and Greek ship owner George Melisanidis. Other fund investors include Greek entrepreneur Christos Copelouzos, Russian investment firm ICT Group and Czech-based investment fund KKCG.
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