The Attorney General's Office announced yesterday a special surveillance of the bidding process opened by Coljuegos for the change of operator of the popular Baloto sweepstakes.
READ HERE: BALOTO (FROM IGT) THE MOST POPULAR LOTTERY IN COLOMBIA IT SPREAD BY COVID
The announcement of the Public Prosecutor's Office was made after the end of several working meetings with representatives of the lottery industry, as well as with potential bidders and Coljuegos, in order to know details of the business model proposed for the concession, the observations to the bidding terms and conditions and in general all the details related to the selection process. According to this request, Coljuegos will have to explain to the Attorney General's Office to what extent the new business model could affect the exploitation rights that guarantee the revenues for health.
"The control body requested clarifications on the business model , based on a guaranteed gross income of $251,000 million pesos (6454168 USD), demanded by the Administradora del Monopolio Rentístico de los Juegos de Suerte y Azar, and collateral benefits of 300 legal monthly minimum wages in force," communicated the Procuraduría (Attorney General's Office).
The Baloto concession is currently carried out by IGT (formerly known as GTECH), which has operated the Baloto for 20 years. The company has one of the largest commercial networks in the country, called VIA, which has more than 13,000 points in the national territory.
READ HERE: TRANSPARENCY OF BALOTO IN DOUBT
Gtech is the largest lottery operator in the world, since mid-2014, when it set its sights on buying the world leader in casino machines, the North American company based in Las Vegas, IGT and thus, in April 2015, became the largest global operator in gaming. The combination of the two, IGT PLC has been headquartered in London since 2014, but is listed on the New York Stock Exchange, with a market value of close to US$ 2.6 billion.
IGT introduced at the end of 2012 a complementary game to Baloto, the Baloto Revancha, where for an additional price the same ticket participates in two draws. Subsequently in April 2017, after 16 years of operation, IGT decided to change the game mechanics, generating dissatisfaction among players. In exchange for an addition of smaller prizes, the odds of winning big prizes are getting smaller and smaller.
READ HERE: IGT IN COLOMBIA AGAIN FACES ACCUSATIONS OF "SCAM"
According to analysts, in theory Baloto would not change its name in case it changes operator, but it´s mandatory “put an eye” there owing the concession procedures isn´t clear on past biddings.
