Turkey's Lottery Privatisation Nearly Complete
Published: Sunday, October 26, 2008 Online-Casinos.com
TURKEY'S LOTTERY PRIVATISATION NEARING COMPLETION
Government greenlights 10 year concession
The winner of the contract that will see the privatisation of the Turkish national lottery Milli Piyango should soon be known following an announcement by the government's Privatisation Committee (OIB) last week that it is to go ahead on the basis of a 10-year concession in which the new license holder will receive 17 percent of games revenues, with around 80 percent of lottery sales distributed as prize money and taxes and administrative charges of 3 percent.
Milli Piyango achieved TRY 1.5 billion in sales last year, making a 17 percent reward for the successful tenderer an attractive proposition.
Italy's Lottomatica , Sweden's Essnet-Tattersall's, US-based Scientific Games, Greece's Opap , Austria's Austrian Lotteries, American Camelot, Italy's Sisal, and Greece's Intralot are all reportedly among potential foreign bidders. Local investors expected to show an interest include Dogan Group, Cukurova Holding and Is Yatirim.
In its announcement of October 15, the OIB said that the privatisation was imminent following permission for the process to go ahead from the Turkish anti-trust authorities.
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