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Business: New South Wales to offer lottery license

April 14, 2009

New South Wales Treasurer Eric Roozendaal announced Tuesday that the Australian state will offer a 30-year distribution license for its NSW Lottery products. The state will offer the license, Roozendaal said, following a “strategic review” of the lottery’s business.

The license will grant exclusive rights to use NSW Lottery brands and intellectual property, but will prohibit the licensee from distributing keno products. In a press release the state said that it will solicit feedback from prospective bidders, stakeholders and the public before issuing the license.

The press release went on to say that the strategic review will consider “current market conditions, the performance and readiness of the business, current regulatory framework, license terms, transaction structure, and overall process and timetable.”

“Issuing a license for the operation of NSW Lotteries means public funds can better be directed to priorities such as health, transport and education,” Roozendaal said. “These funds will come from the proceeds of issuing the license and the continuing receipt of duties.

“As a strong and resilient business, NSW Lotteries is a compelling investment opportunity. We are encouraged by the high degree of interest from prospective buyers of the license.”

phill.provance@gamblingplanet.org

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