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LONG TERM LOTTERY LICENCE AWARDED TO AUSTRIAN LOTTERIES
17th October, 2011 at 07:22:08
Ã–sterreichische Lotterien GmbH to continue its offering
Austria 's Federal Ministry of Finance has completed its tender process following an invitation to parties interested in applying for a lottery licence.
The licence valid for fifteen years has been awarded to osterreichische Lotterien GmbH effective October, 1 2011, after three of the four applications failed due to Austrian Gaming Law's minimum requirements not being met, said Finance State Secretary Andreas Schieder.
Government legislation has strict regulations pertaining to this particular licence with pre-requisites such as unproblematic ownership structures, effective oversight processes and applicants having clear equity of Euro 109 million to enable the fulfillment of obligations to winners.
The lottery license allows for the provision of games of chance and includes Lotto, Toto, Bonus Game, instant lotteries, class lotteries, numbers' lottery and numbers' game, electronic lotteries, bingo and keno.
Osterreichische Lotterien GmbH (Austrian Lotteries) has been providing its offering to Austrians for the past twenty-five years.
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