Malaysia’s Berjaya Corp Bhd (BCorp) said Thursday it has been awarded an investment license to operate a nationwide computerized lottery in Việt Nam for nearly two decades, after beating out five other international firms with the same proposal.
The exclusive 18-year contract was given to BCorp and its local partner, state-run Việt Nam Computerized Lottery Co. Ltd. (Vietlott), from the Hà Nội Department of Planning and Investment, the Malaysian company said in a press release.
The computerized lottery project will be carried out by the indirect subsidiary of BCorp, namely Berjaya Gia Thịnh Investment Technology JSC (Berjaya GTI).
An artist’s impression of a venue where people can buy computerized lottery tickets is seen in this photo provided by Vietlott
Berjaya GTI is a Vietnamese company which is 51 percent owned by Berjaya Lottery Việt Nam Limited, a firm which in turn is 80 percent owned by BCorp and 20 percent owned by its subsidiary, BToto.
Bcorp and Vietlot had earlier entered a business cooperation contract, which comprises investment for procurement and operation of the technical system, equipment, technology, software, and computerized lottery in Việt Nam.
Vietlott is a 100 percent state-owned enterprise, chartered to conduct business in self-select computerized lottery and other bonus-based entertainment games.
With Vietlott being the only enterprise permitted to conduct this type of business in the Southeast Asian country, BCorp believes that it will face low competitive pressure while implementing the project.
The Malaysian firm, boasting 30 years of experience in the gaming industry, is confident it can tap into the 90-million-person market where the “interest and demand for lottery gaming … is expected to be significant with its vibrant economic environment.”
“The [Việt Nam] project will facilitate BCorp Group’s objective of expanding its gaming business overseas.”
The company said in a statement.
“[It] will also enable BCorp Group to strengthen and widen its core business network and also explore other businesses with growth potential in Việt Nam.”
BCorp is a Kuala Lumpur-based corporation which controls a wide array of businesses, including resorts, gambling, food and beverage, and property.
Source: Tuổi Trẻ News