Two new lotteries to operate in Dominican Republic

Loto Real del Cibao, of Bancas Real Consortium, with a 20-year contract and the support of Gtech, will have an approximate profit of us$ 130 million. Both contracts will be authorized by decrees 202-05 and 55-07, signed by President Leonel Fernández, on October 11, 2005 and March 22, 2007, respectively.

Meanwhile, the agreement signed by National Lottery and the company Loto Real del Cibao allows this company to implement the loto game, pools and games called quiniela palé and tripleta, through online draw. Such game or draw may be held on Thursdays and Sundays every week, with the authorization of the National Lottery.

The contract established that Loto Real del Cibao will deliver the National Lottery the 25% of the sales of each draw, which will also enter to the public taxation. This company will also be able to offer the public the products quiniela, palé and tripleta in the daily draws of the National Lottery, as well as other product or game authorized in the country. The firm Loto Real del Cibao, part of Bancas Real Consortium, will have to start its operations in six months from the signing of the contract.

Fernando Guzmán said that it is established that the firm will start operating in December. Meanwhile, the contract establishes that the percentage of prizes to pay to the public will be no less than 50% of the sales made in Loto draws.

In case National Lottery terminates the contract, it will have to compensate Loto Real del Cibao, so it recovers all the expenses and costs.

The agreement signed between Sajama and National Lottery, under the administration of Ramón Rivas, establishes that the first one is authorized to sell quiniela, palé, tripleta and súper palé. Besides, it may implement and organize other interactive games, such as instant lottery, as soon as the games are not licensed to other companies.

With this contact, the Dominican state will have a fixed payment for each point of sale and a 24% for the total of gross sales made by the company, It also establishes that, if the contract is finished by National Lottery, the Dominican state will have to compensate the firm Sajama, whose president is Donald Guerrero.

The contract considers to submit to an arbitration any dispute, controversy or claim from the present contract, but does no establish clearly any compensation to the Dominican Republic in case Sajama does not comply with the norms.

The contract between the firm Sajama, of Lotería On Line, will last 20 years from the date of the first draw, and the contract may be renewed for the same period. It also established that all the games may be performed in the national territory.