aipei Fubon Bank recently won the rights to become the operator of the sports lottery in Taiwan under a license commencing in April 2008, and running through December 2013. This award by Taipei Fubon Bank to TSLC is the result of an open procurement process and has been approved by the Ministry of Finance in Taiwan.
“We are pleased to once again partner with Taipei Fubon Bank to bring the first legalized sports lottery to Taiwan,” said Gtech President and incoming CEO, Jaymin B. Patel. “This is also strategically important for us in that we are expanding our offerings beyond traditional lottery-based offerings. Once the system is operational, players will have the ability to place a variety of wagers on local and worldwide sporting events including baseball, basketball, soccer matches and the Olympic games, at a retailer or bank branch, or through a virtual channel such as telephone or internet wagering.”
Gtech, as the systems integrator and transaction engine vendor to TSLC, will provide its Enterprise Series central system hardware and software, and 1,500 Altura retailer terminals. In its role as systems integrator, Gtech will also provide communications network design, data center consultancy, and integration of account betting and risk management systems from Hong Kong Jockey Club, a sports betting consultant to Taipei Fubon Bank.
In addition, both Gtech and Hong Kong Jockey Club will offer consultation on game, marketing, and operational planning over the term of the license. With respect to its agreement with TSLC, Gtech expects to receive approximately us$ 33 million in revenue over the license period, commencing in April 2008 through December 2013. A portion of the proceeds from the sports lottery sales will be used to promote sports in Taiwan.