Sisal-Sans made the best offer and the government from Turkey has now announced the venture as the winner of the lottery bid.
Turkey.- Milli Piyango, the national lottery from Turkey, now has a new operator. The joint venture between Turkish Demirören Holding’s Şans and Italy’s Sisal won the bid for the operating rights of the lottery for the next 10 years.
The Sovereign Wealth Fund (TVF) of Turkey announced the news and said that the venture had presented the best offer. The TVF said that Sisal-Sans had offered a bid of US$1.69 million for the operating rights of the national lottery, starting in 2020.
The joint venture will triple the lottery’s turnover in the first year alone, Daily Sabah reported. Sisal-Sans will operate at a commission rate of 9.5%, including dealer commissions. The contract also establishes that Sans-Sisal will start operating within nine months the Milli Piyango, Hemen Kazan and Sayisal games.
Turkey aims to raise the lottery’s annual revenues from 0.1% of the gross national product (GNP) to between 1% and 2%. “Our perspective is about how we can create the maximum value. We want to increase our income to over 1% by not selling the business. It has the potential to rise by up to 10 times,” said the TVF last month.