Malaysia's BCorp Bags 18-Year Lottery Operation Contract In Vietnam

KUALA LUMPUR, Jan 20 (Bernama) -- Berjaya Corporation Bhd (BCorp) and Vietnam Computerised Lottery One Member Ltd Liability Co (Vietlott) have bagged an exclusive 18-year business cooperation contract to invest and operate a nationwide computerised lottery in Vietnam. In a joint filing to Bursa Malaysia (Malaysia's Stock Exchange), BCorp and Berjaya Sports Toto Bhd (BToto) said the investment registration certificate was issued today by the Hanoi Department of Planning and Investment. The project will be carried out by Berjaya Gia Thinh Investment Technology Joint Stock Co (Berjaya GTI), a Vietnamese company which is 51 per cent-owned by Berjaya Lottery Vietnam Ltd (BLV). BLV, in turn, is 80 per cent-owned by BCorp and 20 per cent-owned by BToto. The project costs an estimated US$209.46 million (RM919.18 million), to be incurred over a period of 18 years, and expects to launch its first game, a Lotto Jackpot game, by mid-2016, followed by a Digit game. The project will be initially launched in Ho Chi Minh City and progressively rolled out to reach nationwide coverage within the next five years with some 10,000 terminals. -- BERNAMA