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Wednesday, June 27, 2012 at 01:33PM
The Government of Malta and the Lotteries and Gaming Authority of Malta (LGA) awarded MALTCO LOTTERIES Limited (MALTCO), a subsidiary of the INTRALOT Group, with a 10-year concession and a licence to operate the National Lottery of Malta. The award was granted following a competitive tendering process whereby MALTCO satisfied all the technical requirements and submitted the most advatageous financial bid of €39.1 mil.
MALTCO received the licence to operate the games of the National Lottery of Malta, in terms of the Lotteries and Other Games Act, Chapter 438 Laws of Malta. The licence will be in force from the 5th of July 2012. MALTCO shall undertake a capital investment in Malta for the next ten years and shall also make annual contributions to the Responsible Gaming Fund.
The concession agreement was signed by Mr. Alfred Camilleri, Permanent Secretary of the Ministry of Finance, the Economy and Investment on behalf of the Government of Malta, in the presence of the Hon. Tonio Fenech, Minister of Finance, the Economy and Investment and Mr. Emanuel Ellul, Chairman of the Privatisation Unit; whilst the licence for the National Lottery Games was signed by Mr. Reuben Portanier, Chief Executive Officer, Lotteries and Gaming Authority. Dr. John Katakis, Chief Executive Officer signed on behalf of MALTCO.
Dr. Ioannis Katakis, MALTCO’s Chief Executive Officer, stated that “this is an historical moment for both MALTCO and the Government of Malta. We are entering a new successful era for the Maltese Lottery market and together with all the employees of MALTCO, who I thank for their dedication and hard work, we are looking forward to it. We cordially thank the Maltese Government, the Lotteries and Gaming Authority, the Privatisation Unit and the negotiating team who were all present today”.
Mr. Constantinos Antonopoulos, INTRALOT Group CEO, who also honoured the ceremony with his presence, commented: “We are very pleased with the granting of the 10-year concession to MALTCO. INTRALOT’s state-of-the-art technology and customized solutions and services guarantee the success of MALTCO during the next ten years. MALTCO will continue offering to the people of Malta new exciting gaming experiences, while at the same time will increase its significant contribution to the local society and to good causes”.
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