The operators of the UK National Lottery, the Camelot Group, are making a bid to operate the New Jersey Lottery in America.
The New Jersey lottery is set for privatisation next year and four companies attended the ‘mandatory information session’ in Trenton, New Jersey. They are the lottery systems supplier GTech Corporation, Scientific Games, the Greek operators Intralot and the UK operators Camelot and all fur will have until 15th November to submit their bids.
The New Jersey state officials think that putting their lottery into private hands will increase revenue which it uses for education and social service programmes. The chosen operator will need to put $120 million up-front and sign a 15 year deal, but with gross revenues of $2.8 BILLION, the NJ Lottery is a prize worth chasing.
The Camelot Group is, of course, owned by the Ontario Teachers’ Pension Plan, so there’s a bit of a circle of ownership developing here.