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British National Lottery For Sale
11/7/09 - The UK's national lottery Camelot's five shareholders have asked potential buyers to submit offers before the end of November in a bid to offload the lottery and realise what some analysts say could be as much as GBP 300 million.
Shareholders Cadbury Schweppes, Royal Mail Enterprises, De La Rue, Fujitsu Services and Thales Electronics are reportedly keen to sell off the lottery and were in discussions on the best way to approach such a deal earlier this year .
"The whole company is up for sale," a banker close to the deal told the Reuters news agency this week.
Sir Richard Branson's Virgin Group, along with private equity houses and overseas lottery operators are believed to be among those who may be interested in the acquisition. Sugal & Damani, the Indian lottery giant that bid for the UK lottery licence two years ago, has also been suggested as a buyer.
Camelot makes an annual profit of about GBP 30 million. 80 percent of Camelot’s income over ten years is believed to be worth about GBP 280 million.
In their bid for the licence back in April 2007, the current shareholders agreed with the government's National Lottery Commission to cut costs from 5 percent of turnover to 4 percent and reduce profits from 0.5 percent to between 0.3 and 0.4 percent.
Since then, lottery ticket and scratchcard sales have risen, despite the recession. Any buyer would have to be approved by the commission.
Camelot’s undertaking to provide GBP 2.2 billion for the 2012 Olympic Games in London will ensure that any sale is monitored closely by the British government.
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Gambling News :
Amaya FY2016 Trading Update -
The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.
LeoVegas To Sponsor Leicester Tigers -
The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.
Optima Information Services iShop -
Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.
CAGAYAN CHIEF MOVES TO REASSURE LICENSEES -
Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.
New Massachusetts Online Gambling Bill -
It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.
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