MALTA LOTTERY HAS A NEW OWNER

03/24/2012 :  MALTA LOTTERY HAS A NEW OWNER
 
Euro 39,100,000 paid for the ten year concession
 
In Malta, the Ministry of Finance, the Economy and Investment announced this week that the winning bidder for the National Lottery of Malta concession is Maltco Lotteries Limited.
 
In a bidding process, Maltco offered Euro 39,100,000 for the ten year concession, which will commence from 5th July 2012.
 
Two bidders, Maltco Company Limited which has been running the National Lottery since 2004 and a GTech-Betco Consortium submitted their tenders on 5th January 2012.
 
Following the Adjudicating process both bids satisfied the technical and financial requirements laid down in the Call for Tender.
 
The bidders have also satisfied the due diligence criteria laid down in the Call for Tender and necessary to satisfy the Fitness and Propriety requirements of the Lotteries and Gaming Authority to issue the operator licence.
 
On this basis both bidders qualified to move on to the third stage of the process – the opening of their financial offers.  These were opened Thursday in the presence of a Notary Public and representatives of both bidders.
 
The second bidder offered Euro 36,205,505.