Share price: Rs 7:44
Sat 19th September 2020
Lottotech was incorporated on 8 April 2008 by Gamma-Civic Ltd (“Gamma”) for the purpose of operating lotteries and generally to do all related activities within the gaming industry.
Following the Request for Proposal issued in March 2008 by the State Investment Corporation (“SIC”), Lottotech submitted its proposal and was selected in July 2008 as the preferred bidder for the implementation and operation of the Mauritius National Lottery (the “Operator”) on behalf of the Government of Mauritius. The proposal by Lottotech included a structured game plan to launch games in the initial years of the license.
Under the Gambling Regulatory Authority Act 2007 (“GRA Act”), the Operator means a company promoted by the SIC and licensed to operate the Mauritius National Lottery and video lottery terminals. The GRA Act stipulates that there shall, at no time, be more than one operator holding a license to operate the Mauritius National Lottery.
In August 2008, Lottotech entered into agreements with GTECH as its exclusive technology partner for the implementation and operation of the Mauritius National Lottery.
In April 2009, Gamma entered into a shareholders’ agreement with the SIC for Lottotech to implement and operate the Mauritius National Lottery and SIC became a shareholder of Lottotech. The agreement stipulates that the parties shall cause Lottotech to obtain the license to operate the Mauritius National Lottery and they shall not directly or indirectly compete with Lottotech.
In April 2009, the Gambling Regulatory Authority (“GRA”) issued an exclusive license to Lottotech to operate the Mauritius National Lottery for a period of 10 years, renewable for further successive periods not exceeding 5 years each.
In October 2009, Lottotech launched La Loterie Nationale in Mauritius and Rodrigues with the sale of lottery games through an initial network of 542 retailers.
Lottotech is a member of the World Lottery Association (“WLA”), the global authority on lottery business and has reached the Responsible Gaming certification level 3 in 2017.
In view of a major step towards democratisation and shared ownership for the operations of the National Lottery, Lottotech was transformed into a public company on March 3rd 2014. In April 2014, Lottotech announced that it would be offering 85,000,000 ordinary shares for sale to the general public through the Stock Exchange of Mauritius. The initial share subscription period was opened between May 5th and May 16th 2014. On June 11th 2014, Lottotech shares officially began trading on the Stock Exchange of Mauritius.