Australian Lottery for Sale
09/09/2009 13:31:53
Fancy a new investment? Well if you have $600 million lying around the Australian Lottery is for Sale in a shock announcement this week. The NSW Lottery organisation that runs the Oz Lotto is about to be put up for sale in a move that is bound to start a bidding war for the lottery which is set to be sold early next year. The whole sale is contentious after the New South Wales government finally agreed the sale which had previously been blocked.
It’s now looking like a bidding war will commence over the Australian Lottery for sale and the state-owned lottery could well go offshore with local contenders likely to face fierce competition from international lotto giants after the Australian government said that overseas bidders will also be considered.
Although the sale is unlikely to go through until early 2010, if anyone is keen to bid for the lottery they will need to make their expressions of interest known in the next four weeks.
Two major international lottery organisations are thought to be already preparing bits and Tattersalls – Australia’s biggest lottery operator – is also expected to make a play for the lottery group.
No doubt the world lottery organisations will be watching this lottery news with great interest to see who becomes the new name behind NSW Lotteries, one thing is, lottery players won’t be affected by the move but with lotteries’ becoming globally competitive this move it sure to send shock waves around the world as world lottery organisations vie to become the new name behind the Oz Lotto.
Written by Lucy Lotto
Page Last Updated: 05/10/2011 15:30:22
