Russian Sportloto signs 2014 Olympic Lottery operator contract

According to the contract the Olympic Lottery Operator is issued a seven-year license to develop, launch and operate 2 real-time draw lotteries and 10 instant lotteries through a nation-wide sales network to support funding necessary for Sochi 2014 Games. The official requirements set for the operator by Ministry of Finance consider the advanced “Lottery System”, which provides opportunity to use the VLT (video lottery terminals) in that project. The target sales generated in a specially designed series of Olympic lottery games (within a license period) is over us$ 1 million. Sberbank, Russian largest state-owned bank may potentially join the project as a partner, «Vedomosti» reported last week.

“We are honored to become a part of the Olympics community and contribute to development of 2014 Games infrastructure and facilities – comments Oleg Boyko, the owner of Russkoye Loto. We believe that the Lottery will not only support the delivery of the Sochi Olympic Games but go beyond - help to raise people’s involvement in sports and active social life. Our long-term experience in lottery market, advanced technology and existing country-wide distribution chain - all will serve to achieving these goals”.

Russkoye Loto has a market share of 33%, and today it operates a national draw lottery and over 50 national and regional instant lotteries and plans to launch 4 draw and 12 instant national lotteries in the nearest future. The tickets are sold across the Russian Federation through company’s own and partner networks and 80 distributor companies in 120 000 points of sales.