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SA's gulf in facilities between rich and... Glimmer of hope for deal in EU trade tal... Launch of national lottery postponed aga... Investment quietly flowing i... |
Launch of national lottery postponed again
EMPOWERMENT
AFTER almost five years of strategising, the launch of SA's first national lottery has again been postponed, this time from March to August next year. Joe Foster, newly appointed Lotteries Board chairman, attributes the delay to the shift in managing the process from the Department of Trade and Industry (DTI) to the board. Final requests for proposals on the appointment of a lottery operator will be issued by November 24. Consortia bidding must have bids in by January. Foster says the winning bidder has to pay R1.5-million in licence fees and invest up to R1-billion in the next five to seven years in building a national network to reach more than 25-million adults. Jacques Verster, MD of lobby group Spearhead, likens winning the bid to getting a "licence to print money". The National Lottery could generate turnover of R2-billion to R10-billion for its operator. Building its infrastructure is seen as one of the biggest black empowerment opportunities. Half the revenues raised by the lottery will go to prizes, 30% to "good causes" and 20% to cover running expenses. The DTI says the successful bidder has three to six months to set up a scratch-card operation and six months to establish an online lottery. Bids are expected from: Moribo Leisure-led Moraba; Hosken Consolidated Investment-led Lottoyethu; Virgin; Rainbow Entertainment with international group GTech; Pan Malaysian Pool Management; and International Growth Company.
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