Turkey's lottery privatization to begin in August

The process will officially start after enactment of the bill on financial control and the method of granting a ten-year license will be used in the privatization.

Accordingly, 17 percent of revenues will be given to tender-winning firm while 3 percent of it will be given to the Authority of the National Lottery.

A timetable for the privatization is expected to be announced in the coming days.

Greek Opap, Italian-American GTech- Lottomatica, Swedish Essnet-Tattersall, American Scientific Games, American Camelot, Greek Intralot, Austrian Lotteries and Italian Sisal are among the foreign companies interested in the privatization.

Koc Group, Dogan Group, Cukurava Group and Is Yatirim are among the Turkish companies keeping a close eye on the privatization tender.

The National Lottery has a 32 percent of market share in Turkey with an annual turnover of $683 million and $189 million of net profit.