Berjaya Corp Bhd licensed to conduct lotteries throughout Vietnam in cooperation with Vietnam Computerized Lottery Co.
Malaysia’s Berjaya Corp Bhd (BCorp) has recently been granted an investment license from the Hanoi Department of Planning and Investment to operate a nationwide computerized lottery in Vietnam.
The exclusive 18-year contract was given to BCorp and its local partner, the State-run Vietnam Computerized Lottery Co. Ltd. (Vietlott).
BCorp believes that the high barriers to entry, its 18 year exclusive contract, and low competitive pressure in the lottery business will provide a stable business environment for the project to sustain and achieve growth in Vietnam, according a company announcement released on January 20.
With investment estimated of around $210 million, the project will be carried out by an indirect subsidiary of BCorp, the Berjaya Gia Thinh Investment Technology JSC (Berjaya GTI).
Barring any unforeseen circumstances, Berjaya GTI expects to launch its first game, a Lotto Jackpot, by mid-2016, followed by a Digit game thereafter.
Initially the project will be launched in Ho Chi Minh City and will then be rolled out progressively nationwide within five years, with some 10,000 sales terminals.
“With a large population of about 90 million and GDP that grew 6.5 per cent in 2015, the interest in and demand for lottery gaming in Vietnam is expected to be significant with its vibrant economic environment,” the announcement said.
BCorp is a Kuala Lumpur-based corporation in a wide array of businesses, including resorts, gambling, food and beverages, and property.
- Malaysia's Berjaya Corp Bhd
- Berjaya GTI
- computerized lottery operation
- 18-year contract
- $210 million