BCorp wins Vietnam lottery contract
Berjaya Corp (BCorp) has won an exclusive 18-year contract to operate a computerised lottery in Vietnam.
BCorp explained that the project, which also involves its subsidiary Berjaya Sports Toto (BToto), would be carried out by Berjaya Gia Thinh Investment Technology Joint Stock Company (Berjaya GTI), according to local media reports.
Berjaya GTI is 51% owned by Berjaya Lottery Vietnam Ltd, which is 80% owned by BCorp and 20% by BToto.
The project will cost US$210.58m.
The project partner is Vietnam Computerized Lottery One Member Ltd Liability Company (Vietlott), part of Vietnam’s Ministry of Finance.
Vietlott is currently the only enterprise in the country permitted to conduct business in the sector.
Berjaya GTI expects to launch its first game, a Lotto Jackpot game, by mid-2016, followed by a digit game thereafter.
BCorp said the project would be launched in Ho Chi Minh City and would gradually cover the country within five years, totalling around 10,000 terminals.
It explained that the investment required for the project would be funded through internally generated funds or borrowings over the project’s tenure.
BCorp said its 18-year exclusive contract, the high barriers to entry and low competitive pressure in the lottery business would provide a stable environment for growth in Vietnam.
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