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National Lottery licence to go to the highest bidder

An upfront payment of the licence will go towards the National Children’s Hospital.

THE COMPETITION FOR the 20 year National Lottery licence has been launched by the Minister for Public Expenditure and Reform, Brendan Howlin.

To be in with a chance of winning, applicants need to meet two key essential requirements:

  1. An annual contribution of 65 per cent of gross gaming revenues (sales minus prizes) to good causes.
  2. Maintaining current arrangements for retailer commission.

If applicants agree to meet the above requirements, the bidder that submits the highest licence fee proposal will win.

Payment for the lotto licences will be payable in two equal installments, the first in 2013 and the second in 2014.

“By seeking an upfront payment for the Lottery licence we can provide part-funding for the new National Children’s Hospital without having to source that level of cash by reducing expenditure in other areas or raising additional taxes” says  Minister Howlin.

You still could be in with a chance of winning, the deadline for applications is 16 September 2013.

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Read: Don’t throw away your Lotto ticket: you might have won big after all>

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