Lottomatica, Snai and Dogan join bid for Turkish sports betting concession

Dogan Yayin Holding will control 50% of the joint venture while Lottomatica will control 47% through its wholly owned subsidiary Lottomatica Videolot Gestione S.p.A. Snai’s stake in the join venture is the remaining 3%.

The closing date for submission of bids was August 12th. The concession will be awarded to the most favourable bid in terms of compensation, calculated as a percentage of total wagers net of VAT.

The ten year contract covers all the activities related to risk management, marketing, advertising and design of new games and the supply and maintenance of the IT equipment for the central system and the points of sale.

Two other groups have also submitted bids. Ladbrokes plc has teamed up with Turkey’s Esas Holdings, while Intralot and Turkcell have also participated through their jointly owned operation, Inteltek. Iddaa is currently operated by Inteltek under the terms of a one year contract extension which it signed in February.

The successful bidder is committed to maintain a pay-out rate below or equal to 59% of total wagers net of VAT, and to guarantee a minimum of us$ 1,268 in annual gross revenue. Last year’s Iddaa gross revenue amounted to us$ 1,607 following a ban on all forms of online gaming by unlicensed operators, designed to protect the monopoly.