bndes aims to complete lotex brazil sale in february 2019by Joker 29.11.2018 0 comments
BNDES – Brazil’s national development bank has further postponed the tender process for its agreed sale of LOTEX, the state-owned operator of instant win (scratch) games.
The sale of LOTEX had received its original government approval on August 2017, allowing BNDES to begin the tender process for 2018, which was reported to be seeking a minimum of BRL 4 billion (€1 billion) transaction for the sale of the state asset.
Nevertheless, a series of blunders by BNDES and Brazilian government counterparts have seen the LOTEX tender and auction be continually delayed or withdrawn.
During Q3 2018, BNDES withdrew its third attempt to process a LOTEX tender, as international incumbents refused to participate in the concession as documents did not clarify the position of state-owned CAIXA Federal as national lottery operator and lead disruptor of LOTEX products.
The tender embarrassments have put pressure on newly elected Jair Bolsonaro’s ‘Partido Social Liberal – PSL’ to deliver on the mandate as a first directive.
This week BNDES published its new schedule, outlining that it would auction LOTEX on 5 February 2019, with bidding parties allowed to submit proposals by 30 January 2019.
BNDES and the government’s concession for Brazilian instant-win and scratch card products is a maintained at a period of 15-years.
The Brazilian government allows for three types of lottery licensing; national lottery draw games; Mega SENA, LotoFacil, LotoMania and Dupla Sena) and sports lotteries (Quinia and Lotogol), operating alongside LOTEX instant games.
As yet, leading international lottery operators’ such as IGT, Intralot SPA and Scientific Games have not confirmed whether they will participate in BNDES latest tender process.