A Malaysian gaming powerhouse, BCorp, and its subsidiary, Sports Toto (BToto), have secured a sole 18-year agreement to manage computerized lottery games in Vietnam. This endeavor will be carried out through Berjaya Gia Thinh Investment Technology Joint Stock Company (Berjaya GTI), a collaborative venture where Berjaya Lottery Vietnam Ltd possesses a 51% share. BCorp and BToto hold 80% and 20% ownership of Berjaya Lottery Vietnam Ltd, correspondingly. The initiative represents a considerable financial commitment, projected at roughly US$2.1 billion.
This alliance with Vietlott, the sole authorized lottery provider in Vietnam and a division of the Ministry of Finance, marks a significant advancement in the Vietnamese lottery landscape. Berjaya GTI intends to introduce its inaugural lotto jackpot game by the middle of 2016, succeeded by an online game.
At the outset, the project will be implemented in Ho Chi Minh City, with ambitious objectives to broaden its reach across the nation within five years, aiming for approximately 10,000 terminals. BCorp plans to fund this expansion through internally generated funds from the project or via loans.
BCorp is optimistic that this 18-year exclusive agreement, combined with the substantial obstacles to entry and restricted rivalry in the lottery industry, will establish a solid base for substantial expansion within the Vietnamese market.
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