The government of Turkey is set to formally advertise a tender as it prepares to privatize its national lottery.
Finance Minister Naci Agbal told reporters the government will take an initial bid for the tender on August 5, according to the Hurriyet Daily News report.
The licenses for the Milli Piyango, or the National Lottery Directorate will be effective for 10 years, the minister has said.
The country has been trying to privatize its lottery for some time, but the government’s efforts have yet to see success. This time, Agbal said they made sure to revise the tender specifications so that the new model “would attract more bidders than the previous tries.”
One of the issues in the previous tender was the transfer of operational rights, so this time, the government made sure that the tender will be prepared as a “private law contract.”
“We will hold the tender on dollar-basis, but the investors will have the opportunity to make their payments in Turkish lira,” Agbal said, according to the news outlet. “While the pre-deposit payment was named as 40 percent of the contract value in the previous tender, this amount has now been decreased to 20 percent.”
In addition, investors will also be able to add new games, which will be subject for approval by the National Lottery Directorate.