Lottery auction draws nearer
The governing board of the Privatizations Fund is set to decide on Monday on the start of the tender for the concession of state lotteries to private investors.
Sources suggest the tender will be proclaimed at the end of the new week or at the start of the next. It will concern the Special State Lottery (or New Year?s Lottery), the National Lottery, the People?s Lottery and the Housing Lottery. An Instant Lottery license will also be auctioned. The contract is expected to last for 10-12 years.
The government and the fund have reportedly committed themselves to the troika for revenues of 650 million euros in the first quarter of next year from the new concession contract.
This is a market that keeps shrinking. A report by the General Accounting Office of the State showed that total revenues of state lotteries last year came to 347.6 million euros, down from 420 million in 2009 and 430 million euros in 2008. Total net profits amounted to 82.2 million euros last year. However, observers expect a strong investing interest as the market is considered underdeveloped.
