Camelot consortium wins Irish National Lottery tender with €405m bid4th October 2013 9:45 am GMT
The Irish government has confirmed that a consortium comprising of UK National Lottery operator Camelot and Irish state-owned postal services provider An Post have been selected as the preferred applicant for the exclusive operation of the National Lottery in Ireland.
Following an international competitive tender process, Premier Lotteries Ireland was selected as the preferred applicant for the twenty-year agreement after submitting the highest licence fee proposal of €405m.
Premier Lotteries Ireland is a consortium comprising Camelot owner Ontario Teachers Pension Plan, An Post and An Post pension. The company secured the tender ahead of rival bids from GTECH and Tatts Group.
Ireland’s Minister for Public Expenditure and Reform Brendan Howlin said that discussions on finalising the terms of the licence will commence shortly between the Department of Public Expenditure & Reform and Premier Lotteries Ireland.
“These are scheduled to be completed in November with a formal signature date in December,” said Minister Howlin in a statement. “Subject to successful finalisation of the licence, it is envisaged that the new licence will become effective from October 2014.”
Under the next licence, the ongoing annual contribution to Good Causes will be set at 65 per cent of gross gaming revenues (defined as sales minus prizes), while current arrangements for retailer commission will be maintained.
The €405m licence fee will be payable in two equal instalments, the first on signature of the licence in December and the second on commencement of the licence scheduled for October 2014.