Tatts Group Limited has been awarded Victoria’s public lottery licence for the next 10 years.
The licence gives Tatts the exclusive right to run a range of lotteries in Victoria for the next decade, including drawing numbers from a pool (such as Powerball) and scratchies.
Under the terms of the new agreement, Tatts will make a $120 million premium payment to the Victorian Government when the licence commences on 1 July 2018 – almost four times the $31 million received for the two lotteries licences issued in 2007.
The licence is expected to generate close to $4 billion before it expires in 2028, which will be reinvested in the Hospital and Charities Fund and Mental Health Fund – improving vital services and facilities across Victoria.
Tatts was selected following a rigorous 20-month application and evaluation process, in which the company demonstrated the technical, commercial and financial expertise needed to run Victoria’s public lotteries.
Tatts also holds the current public lotteries licence, which is due to expire on 30 June 2018.
Quotes attributable to Minister for Gaming and Liquor Regulation Marlene Kairouz
“After a rigorous assessment and evaluation process, Tatts has been awarded the Victorian public lotteries licence.”
“Tatts has a proven record running our public lotteries, and I’m pleased to announce they will continue to do so for the next 10 years.”
“The licence agreement is a great outcome for Victoria – it will generate billions of dollars which will be invested in vital community services and facilities across the state.”