Lottomatica Bids On Turkish Lottery

Published Friday, March 06, 2009 -

Lottomatica, an Italian company traded on the Milan Stock exchange along with its subsidiaries, engages in the operation of lottery and other public games worldwide increased bets accepted by its Italy sports gambling operation in February by 17 percent. Good news for the company's treasury and stock holders.

Lottomatica operates through three segments: Lottery, Gaming Solutions, and Commercial Services. Its Lottery segment operates and provides various services, technology, and products to government sponsored online, instant, and traditional lotteries; fixed odds sports betting; and pari-mutuel betting and sports pools. The company's Gaming Solutions segment provides solutions, products, and services relating to video lottery terminals (VLTs) and systems for VLTs and amusement with prize machines. Its Commercial Services segment performs transaction processing of non-lottery companies.

The versatility and scope of this company is paying off as a recent understanding has been drawn up to partner with Turkish liaise company Dogan Sirketler Grubu Holding A.S. in a 50:50 joint venture to tender for the Turkish National Lottery. Lottomatica and Dogan have submitted their application for the tender. If granted there will be a 10-year license to plan, organize, and arrange drawings of games of chance in Turkey. It is also expected that the holder of the operating license will also get 17% of revenues.

Turkish privatization administration (OIB) announced on February 16, 2009 that Lottomatica SpA, OPAP SA, Osterreichische Lotterien Gesellschaft M.b.h. and Intralot SA are amongst the five bidders in the pre-qualification stage of a tender to privatize Milli Piyango, or the Turkish National Lottery.

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