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Malta Lottery Operator Signs Seven Year Contract

MALTA – As reported by the Malta Times: "The government yesterday signed an agreement with Maltco Lotteries Ltd granting the company a seven-year licence to operate lottery games in Malta.

"The shareholders of Maltco Lotteries Ltd include Intralot, the Greek international lottery operator which owns 73 per cent, and two Maltese firms, the Players Group with 24 per cent, and Associated Supplies Ltd with three per cent.

"The licence enables the company to operate all the games currently being run by the Lotto Department and other games for which Intralot have developed the know-how and software.

"…The gaming operation will be run on what is being termed a mixed licence model. This in effect means that Maltco will pass on Lm8 million (US$27.8 million) to the government up front - made up of Lm5 million which was handed over yesterday while another Lm3 million will be passed on to the government once the firm starts operating in six months' time.

"Apart from these sums, the government will receive an on-going percentage fee from the revenue of the games.

"…Maltco will also have the chance to revive the national lottery, discontinued after 55 years on June 29 last year. The Lotto Department had decided to stop running that lottery because it had become a loss-making exercise…"

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