Online firms form joint union in order to break into the lucrative Turkish sportsbetting market.
Friday 15th August 2008
Milan-based lottery firm Lottomatica has announced that it has bid for the ten-year exclusive concession on the Iddaa sportsbetting game in Turkey as part of a joint venture with Turkish company Dogan Yayin Holdings and Italy's Sindacato Nazionale Agenzie Ippiche (SNAI).
According to a statement from the firm, Lottomatica would hold 47 percent of the venture while Dogan would possess 50 percent with the remaining portion belonging to SNAI.
Officials in Turkey earlier announced that the winning bid would be the one that was the most favourable in terms of compensation calculated as a percentage of the total wagers minus value added tax. The concession would cover all marketing activities along with risk management, advertising and the design of new games alongside the supply and maintenance of equipment for the central system and points of sale.
The joint venture is the third bid for the game with the UK’s Ladbrokes forming a joint venture with Turkey’s Esas Holdings while Intralot and Turkcell submitted an earlier offer through their joint venture, Inteltek.
Lottomatica stated that total wagers for the game in 2007 were around $1.6 billion. It is currently run by Inteltek under the terms of a one-year renewable contract is signed in February.
Milan-based lottery firm Lottomatica has announced that it has bid for the ten-year exclusive concession on the Iddaa sportsbetting game in Turkey as part of a joint venture with Turkish company Dogan Yayin Holdings and Italy's Sindacato Nazionale Agenzie Ippiche (SNAI).
According to a statement from the firm, Lottomatica would hold 47 percent of the venture while Dogan would possess 50 percent with the remaining portion belonging to SNAI.
Officials in Turkey earlier announced that the winning bid would be the one that was the most favourable in terms of compensation calculated as a percentage of the total wagers minus value added tax. The concession would cover all marketing activities along with risk management, advertising and the design of new games alongside the supply and maintenance of equipment for the central system and points of sale.
The joint venture is the third bid for the game with the UK’s Ladbrokes forming a joint venture with Turkey’s Esas Holdings while Intralot and Turkcell submitted an earlier offer through their joint venture, Inteltek.
Lottomatica stated that total wagers for the game in 2007 were around $1.6 billion. It is currently run by Inteltek under the terms of a one-year renewable contract is signed in February.