Malaysian firm wins contract for Vietnam’s computerized lottery operation
Malaysian firm wins contract for Vietnam’s computerized lottery operation
Malaysia’s Berjaya Corp Bhd (BCorp) said Thursday it has been awarded an investment license to operate a nationwide computerized lottery in Vietnam for nearly two decades, after beating out five other international firms with the same proposal.
The exclusive 18-year contract was given to BCorp and its local partner, state-run Vietnam Computerized Lottery Co. Ltd. (Vietlott), from the Hanoi Department of Planning and Investment, the Malaysian company said in a press release.
The computerized lottery project will be carried out by the indirect subsidiary of BCorp, namely Berjaya Gia Thinh Investment Technology JSC (Berjaya GTI).
Berjaya GTI is a Vietnamese company which is 51 percent owned by Berjaya Lottery Vietnam Limited, a firm which in turn is 80 percent owned by BCorp and 20 percent owned by its subsidiary, BToto.
Bcorp and Vietlot had earlier entered a business cooperation contract, which comprises investment for procurement and operation of the technical system, equipment, technology, software, and computerized lottery in Vietnam.
Vietlott is a 100 percent state-owned enterprise, chartered to conduct business in self-select computerized lottery and other bonus-based entertainment games.
With Vietlott being the only enterprise permitted to conduct this type of business in the Southeast Asian country, BCorp believes that it will face low competitive pressure while implementing the project.
The Malaysian firm, boasting 30 years of experience in the gaming industry, is confident it can tap into the 90-million-person market where the “interest and demand for lottery gaming ... is expected to be significant with its vibrant economic environment.”
“The [Vietnam] project will facilitate BCorp Group’s objective of expanding its gaming business overseas,” the company said in a statement.
“[It] will also enable BCorp Group to strengthen and widen its core business network and also explore other businesses with growth potential in Vietnam.”
BCorp is a Kuala Lumpur-based corporation which controls a wide array of businesses, including resorts, gambling, food and beverage, and property.
