National Lottery makes comeback, Maltco granted 10-year concession

The National Lottery is to make its comeback, as Maltco Lotteries were formally granted a new 10-year licence and announced that it will be processing some €1.2 billion from its global turnover through island’s financial services.

"During my talks with finance minister Tonio Fenech, I promised him that I would be somehow returning the money he gave to Greece in aid," joked a satisfied Constantinos Antonopoulos, chief executive of Greek lottery giant Intralot, which owns Maltco, who attended Wednesday morning's signing ceremony during which Maltco was formally granted its second 10-year concession to operate the lotteries.

Maltco was declared a preferred bidder last March when it submitted a €39.1 million offer to government in a call for tender, which outbid rivals Lottomatica.

The concession provides for Maltco to reintroduce the National Lottery in the coming months, apart from running the weekly Lotto and Super 5 lotteries, besides other games which the gaming company provided over the past years, including sports betting U-Bet.

"Malta was the very first, a pioneer in privatising lotteries, and I must say that it was a great success and has meanwhile also successfully built an incredible reputation as a global hub for gaming and financial services, which we as a world player in gaming are aware of and are ready to start channelling our financial transactions through Malta," Antonopoulos said, adding that these transactions are expected to reach €1.2 billion per year.

Finance minister Tonio Fenech congratulated the company for winning the concession, and announced the return of the National Lottery, albeit discussions regarding the game and the prize are to be concluded with the Lotteries and Gaming Authority.

Fenech said that as the new licence comes into effect as of July 5, 2012 new regulations will also come into place, including an increase in the legal age for betting which from 16 will now be 18.

Besides contributing to the Good Causes Fund, the new licence also establishes the Responsible Gaming Fund which will see government, LGA and Maltco contribute towards assisting rehabilitation programmes for gambling addicts.

According to Fenech, Maltco's new 10-year concession will see the company introduce new machines within all lotto booths, while receivers have been assured that nothing of their previous conditions will be changed.