Turkey Reveals Lottery, Horse Racing Sell-Off Plans

Turkey Reveals Lottery, Horse Racing Sell-Off Plans

January 9, 2017
Staff Writer
198

In what has been interpreted as a surprising move by many, Turkey has scrapped plans for the privatisation of the National Lottery, which had been previously set for March 2017, Reuters has reported.

Turkey’s Finance Minister Naci Agbal revealed that the country will continue to work the process for the National Lottery and the country’s Horse Races itself now that the privatisation plan are abandoned.

“We have ended the process of taking bids for the lottery. We have now decided to run the process for both the country’s horse races and the lottery”, Agbal told Turkish media on Monday.

The deadline for National Lottery bids had been previously extended in October 2016 after the winner and runner-up on the 2014 auction failed to pay a winning price of $2.76 million.

The top bidder from the previous privatisation tender was a Turkish consortium made of two veteran gaming companies. However, the winning consortium failed to finalise the privatisation process after suffering a great loss after the devaluation of the Turkish Lira.

Even though the consortium asked to be given more time to complete a takeover, the Finance Ministry said at the time that the privatisation process would probably continue with the second highest bidder.

The second highest bidder was a Turkish company ERG, run by the Turkish Lottery Holding also failed to make the payment on time which ultimately resulted in a failed privatisation process.

ABOUT CASINOS ONLINE

logo2

The team behind CasinosOnline consists of casino experts united in their desire to spread knowledge to a wider audience. The aim is, and always has been, to help even the most inexperienced players gain their footing in this exciting industry.

The enthusiastic members dedicate time and energy to the creation of potent and insightful content. With years of experience in various fields of this industry, our expert authors know precisely what to look for while searching for casino quality.

LEAVE A COMMENT

Your email address will not be published. Required fields are marked *

Best Online Casino By Country

Although most casinos online are inherently international, some of them specialize for certain markets. If you’re looking for the best casino for your country or area, you’ll find it on this page. The CasinosOnline team reviews online casinos based on their target markets so players can easily find what they need.