Turkey reattempts to privatise National Lottery

The Turkish Ministry of Finance has formally announced that it intends to privatise its National Lottery opening up the its first stage tender process on 5 August.

Presenting initial details, the Ministry outlined that its private tender for ‘Milli Piyango’ would be set for a period of ten years.

Turkey’s previous attempts to privatise its National Lottery have been unsuccessful, however speaking to national news sources Finance Minister Naci Agbal announced that the Ministry had made a number of adjustments to its tender specifications in order to gain approval from multiple political stakeholders.

In 2014 a Scientific Games led joint venture for the Turkish Lottery had been granted rights to operate ‘Milli Piyango’, however the consortium could not commit to project due to the Turkish Lira devaluing.

Addressing potential bidder concerns, the Turkish Ministry of Finance are reported to have lowered lottery investment terms. Agbal detailed that the winning bid party, would be required to make a 20% down payment on the tender, instead of the 40% needed in previous auctions.

First stage tender bids will be allowed to be made in €, $ and Turkish Lira currencies.