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Tue, Oct

Companies in Bidding War for Turkish Lottery

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As Turkey announces its intentions to privatize its lottery company, Milli Piyango, local and international companies are already scrambling to try and meet the requirements set in place by authorities in their offer of a 10 year lottery contract.

Local companies such as the Dogan Group, the Cukurava Group and Is Yatirim will be involved in the tender, while international firms such as Australia's Tattersall, Greece's OPAP and Intralot, and Sisal of Italy will also try their luck. Several US based firms will also make a bid.

The winning company will be able to claim 80% of the revenues from the Turkish lottery, while the state will receive 20%. Lottery ticket sales in the country exceeded the $1.1 million mark last year, making the 10 year contract an extremely lucrative one.