{"id":53095,"date":"2023-03-22T10:23:57","date_gmt":"2023-03-22T10:23:57","guid":{"rendered":"https:\/\/gaming-awards.com\/NEWS\/?p=53095"},"modified":"2023-03-22T10:23:57","modified_gmt":"2023-03-22T10:23:57","slug":"irish-lottery-reported-up-for-sale","status":"publish","type":"post","link":"https:\/\/gaming-awards.com\/NEWS\/irish-lottery-reported-up-for-sale\/","title":{"rendered":"Irish Lottery Reported Up For Sale"},"content":{"rendered":"<p style=\"text-align: left\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-32768\" src=\"https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2017\/08\/for-sale2-300x172.jpg\" alt=\"\" width=\"300\" height=\"172\" srcset=\"https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2017\/08\/for-sale2-300x172.jpg 300w, https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2017\/08\/for-sale2-216x125.jpg 216w, https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2017\/08\/for-sale2-146x85.jpg 146w, https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2017\/08\/for-sale2.jpg 554w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>First it was <a href=\"https:\/\/gaming-awards.com\/NEWS\/ukgc-green-lights-allwyn-purchase-of-camelot\/\" target=\"_blank\" rel=\"noopener\">Camelot<\/a> in the UK and now it seems <a href=\"https:\/\/gaming-awards.com\/NEWS\/allwyn-acquires-camelot-for-100-million\/\" target=\"_blank\" rel=\"noopener\">Ontario Teachers\u2019 Pension Plan<\/a> (OTPP) is about to give up its <a href=\"https:\/\/gaming-awards.com\/NEWS\/camelot-drops-transition-appeal-against-allwyn-but-continues-fight-against-ukgc\/\" target=\"_blank\" rel=\"noopener\">Irish lottery<\/a> stake too.<\/p>\n<p style=\"text-align: left\">The Canadian fund is believed to have hired the Swiss Bank UBS to look into selling their company Premier Lotteries Ireland (PLI).<\/p>\n<p style=\"text-align: left\">The Irish gaming franchise was granted a 20-year license around a decade ago to operate the <a href=\"https:\/\/gaming-awards.com\/NEWS\/mps-reflect-on-uk-lottery-operators-performance\/\" target=\"_blank\" rel=\"noopener\">National Lottery<\/a>. This was at a cost of \u20ac405 million. The fact there is still another decade to go made the company\u2019s intention to sell both puzzling and surprising.<\/p>\n<p style=\"text-align: left\">Nor are OTPP believed to have money troubles: they made a four per cent net return last year. And, over the past decade, the Irish Lottery has netted them an average 8.5 per cent return. In 2021 sales of <a href=\"https:\/\/gaming-awards.com\/NEWS\/camelot-win-latest-round-in-court-battle-for-uk-lottery\/\" target=\"_blank\" rel=\"noopener\">Lottery tickets<\/a> passed the \u20ac1bn mark. That resulted in a net profit for PLI of \u20ac25.3 million that year \u2013 around \u20ac10 million more than in 2020.<\/p>\n<p style=\"text-align: left\">However, it\u2019s not all been plain sailing. Only last year an audit of the Irish National Lottery by the country\u2019s Comptroller and Auditor General highlighted the spending of unclaimed winnings by PLI. They pointed out that the \u20ac124 million (US$131.71 million) in unclaimed prize money should have been spend on projects to benefit the community. Instead, the company had used it to pay for marketing and promoting the Lottery itself.<\/p>\n<p style=\"text-align: left\">This prompted calls by the government for more supervision of PLI\u2019s actions. But there is no reason to suppose that this was the cause of the company\u2019s intended departure.<\/p>\n<p style=\"text-align: left\">When asked if the company was up for sale, a PLI spokeswoman was unwilling to comment on speculation.<\/p>\n<p style=\"text-align: left\">She added: \u201cAny discussion regarding the ownership structure is a question for the shareholders and not something that we are in a position to comment on.\u201d<\/p>\n<p style=\"text-align: left\">OTPP, who formerly owned Camelot (the company which ran the UK Lottery), were taken aback recently after their rights to run it were removed and awarded to Allwyn instead.They went on to sell the lottery franchise to their rivals. The sale included the right to run the Lottery for the state of Illinois.<\/p>\n<p style=\"text-align: left\">OTPP hasn\u2019t provided a reason for its sudden decision to sell up in Ireland. The move comes a month after the organization completed its sale of Camelot\u2019s assets, including those in Illinois, to Allwyn. For those assets, it is believed to have earned around \u00a3100 million (US$120.86 million) for shareholders.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>First it was Camelot in the UK and now it seems Ontario Teachers\u2019 Pension Plan (OTPP) is about to give up its Irish lottery stake too. The Canadian fund is believed to have hired the Swiss Bank UBS to look into selling their company Premier Lotteries Ireland (PLI). The Irish gaming franchise was granted a [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":53096,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,2,11,8],"tags":[],"class_list":["post-53095","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-europe","category-gaming","category-headlines","category-latest"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Irish Lottery Reported Up For Sale - iGaming Post<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gaming-awards.com\/NEWS\/irish-lottery-reported-up-for-sale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Irish Lottery Reported Up For Sale - iGaming Post\" \/>\n<meta property=\"og:description\" content=\"First it was Camelot in the UK and now it seems Ontario Teachers\u2019 Pension Plan (OTPP) is about to give up its Irish lottery stake too. The Canadian fund is believed to have hired the Swiss Bank UBS to look into selling their company Premier Lotteries Ireland (PLI). The Irish gaming franchise was granted a [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/gaming-awards.com\/NEWS\/irish-lottery-reported-up-for-sale\/\" \/>\n<meta property=\"og:site_name\" content=\"iGaming Post\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-22T10:23:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2023\/03\/Irish-Lottery.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jill Stevenson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@igamingpost\" \/>\n<meta name=\"twitter:site\" content=\"@igamingpost\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jill Stevenson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/irish-lottery-reported-up-for-sale\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/irish-lottery-reported-up-for-sale\\\/\"},\"author\":{\"name\":\"Jill Stevenson\",\"@id\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/#\\\/schema\\\/person\\\/c82c77f8b31a0a46a2e2ed52e1be3319\"},\"headline\":\"Irish Lottery Reported Up For Sale\",\"datePublished\":\"2023-03-22T10:23:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/irish-lottery-reported-up-for-sale\\\/\"},\"wordCount\":410,\"publisher\":{\"@id\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/irish-lottery-reported-up-for-sale\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/Irish-Lottery.jpg\",\"articleSection\":[\"Europe\",\"Gaming\",\"Headlines\",\"Latest\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/irish-lottery-reported-up-for-sale\\\/\",\"url\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/irish-lottery-reported-up-for-sale\\\/\",\"name\":\"Irish Lottery Reported Up For Sale - 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