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Maltco : 10-year Maltese National Lottery concession
Thursday June 28,2012 : MALTCO GRANTED 10-YEAR LOTTO CONCESSION
Winning bid of Euro 39.1 million
Following a much contested process, Intralot subsidiary Maltco has been granted the 10-year Maltese National Lottery concession and will re-introduce the National Lottery in the coming months.
Maltco outbid Lottomatica with a Euro 39.1 million offer to the Government.
"During my talks with finance minister Tonio Fenech, I promised him that I would be somehow returning the money he gave to Greece in aid," a satisfied Constantinos Antonopoulos, chief executive of Greek lottery giant Intralot told Malta Today.
While Finance minister Tonio Fenech announced the return of the National Lottery, discussions with the Lotteries and Gaming Authority on games and prizes still need to be concluded.
The new licence valid from July 1, will operate in a newly regulated environment that has increased the legal betting age from 16 to 18 and includes the establishment of a Responsible Gambling Fund to which the LGA and Maltco will contribute in assisting gambling addicts.
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