Special law had to be passed to enable the sale
Ireland hoping to raise 600 million euros from lottery licence sale
2013-06-03
Reading time 40 seg
(Ireland).- The Irish Government is hoping to generate as much as 600 million euros from the sale of the lottery licence according to reports. Public Expenditure and Reform Minister Brendan Howlin said he was looking to boost the annual revenues available for good causes with the sale.
"We have to be innovative and creative in how we raise funds; by seeking an upfront payment for the lottery licence we can provide part-funding for the new national children's hospital without having to source that level of cash by reducing expenditure in other areas or raising additional taxes," he said.
Special legislation had to be passed by the Government to enable the licence sale, while it also had to ensure that any new operator would be able to broaden the commercial activities of the lottery by permitting more online games.
An Post has held the licence for the past 26 years, ever since the National Lottery came into being. It made 2.6 million euros last year from operating the lottery.
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