SEARCH NEWS:

 

LASV Concludes Acquisition of the Lottery in the Russian Federation

Rugby National Corp., the operators, and the Union of Journalists, jointly known as Press -- Lotto in the Russian Federation, currently holds the Sole Online Computer Lottery License. The division of revenues are as follows; Rugby National Corp. 17.5%, Union of Journalists 17.5%, Prize Allocation 50%, Expense Allocation 15%.

With the conclusion of this Agreement, the commencement in installation of Real Computer On Line Lottery with a Real Time Paramutual (prize structure) is scheduled forthwith. Press -- Lotto has already procured select locations for the first phase of 500 On Line installations. A vast amount of expertise from high level politicians, lottery experts, as well as agents, media professionals and lottery related services.

Based on the current projections it is estimated 1st year gross revenues of $150 million, Second year gross revenues are projected at $350 million. Fifth year gross revenues are projected at $3 billion to $4 billion, conservatively. The Russian Federation consists of 22 major market areas. Expansion over the five year term will encompass 45,000 terminals throughout these 22 regions servicing an increasing population of approximately 200 million.

LASV is extremely excited about the completion of the acquisition and the potential to capitalize as the sole player of this upward climbing market.

< Gaming News