Lottotech secures US$6.5m investment as CARE Ratings reaffirms its credit rating
Mauritius National Lottery operator will use the funding to renew its retailer terminal network after CARE Ratings reaffirmed its MAU AA credit rating.
Mauritius.- Mauritius National Lottery operator Lottotech has secured MUR305m (US$6.5m) in long-term financing after CARE Ratings (Africa) reaffirmed the company’s MAU AA credit rating, with the investment set to support the continued development of the business, including the renewal of its retailer terminal network.
Announced on July 31, the reaffirmed rating accompanies financing through an existing long-term loan that will support the continued development of Lottotech’s business, including the renewal of lottery terminals across its retail network in Mauritius and Rodrigues. In a statement, Lottotech said the investment would help consolidate the company’s foundations while strengthening its resilience, efficiency and capacity for future growth.
CARE Ratings is a regional credit rating agency that assesses the creditworthiness of companies and financial institutions operating across Africa. Lottotech’s MAU AA rating is issued on the agency’s Mauritius national rating scale and signifies a very high degree of creditworthiness, indicating a strong capacity to meet its financial obligations relative to other issuers on the Mauritius national rating scale.
Shaun Kimtiamfookchong, Deputy CEO of Lottotech, said the company was entering a new phase after more than 16 years operating the Mauritius National Lottery.
He said: “After more than sixteen years at the helm of the National Lottery, this moment marks a new stage: consolidating the foundations of our company to strengthen its resilience, efficiency and future growth capacity.”
Kimtiamfookchong said the reaffirmed rating reflects Lottotech’s strong business performance. He added: “This rating also reflects the solidity of our financial performance and our roots within the Gamma Group, as well as the market’s confidence in our model.”
The company distributes its lottery products through approximately 680 retail outlets across Mauritius and Rodrigues. Its portfolio includes Loto, Loto Plus, Loto Vert, HotPicks and The Football Pools.
Lottotech also highlighted its World Lottery Association (WLA) Responsible Gaming Level 4 Certification, the highest international standard for responsible gaming.
