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CAMELOT ONLY BIDDER IN PENNSYLVANIA LOTTERY TENDER
11/22/2012 : CAMELOT ONLY BIDDER IN PENNSYLVANIA LOTTERY TENDER
Could be awarded 20-year contract by year's end
Camelot Global Services PA L.L.C. a subsidiary of UK National Lottery operator Camelot, is reportedly the only bidder in a tender process issued for a 20-year contract to privately manage the 41-year-old Pennsylvania Lottery
According to the State Department of Revenue, the contract could be awarded as soon as year-end following due diligence on criminal background and financial history.
The department will additionally weigh up past and projected lottery performance against what Camelot is offering to ensure growth in profit above what it could achieve on its own.
"The receipt of a priced bid represents an important milestone in this process," said Revenue Secretary Dan Meuser. "While there are several additional steps before we'll be prepared to make a final decision ... it is encouraging to see the potential private manager propose 20 years of significant profit growth."
Camelot is understood to have promised $ 34 Billion in profits over the 20 years, the State-run lottery reported ticket sales amounting to $3.2 Billion last year, with all proceeds, amounting to around $ 1 Billion, being spent on funding programmes that benefit the elderly.
Camelot will drop $50 million on the award of the contract, which Pennsylvania State will keep if Camelot choose to back out of the contract at any stage.
The Camelot Group is owned by the Ontario Teachers' Pension Plan who acquired the group in 2010 for GBP 389 Million.
In related news, The UK National Lottery operated by Camelot reported an 8 percent increase in total sales amounting to GBP 3 528.8 Million (its highest ever) for its six month period ending September 29, 2012.
The organisation said it awarded GBP 1. 86 billion in prize money and allocated GBP 952.8 million for good causes.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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