Sugal & Damani in race for UK lottery
Sugal and Damani, a little-known Delhi-based firm, is in race to run Britain's National Lottery.
By PTI |
LONDON: Sugal and Damani, a little-known Delhi-based firm, is in race to run Britain's National Lottery.
It is challenging Camelot which has run the Lottery since its inception in 1994. By virtue of its 13-year tenure as the National Lottery's operator, Camelot stands to gain from its incumbency advantage.
Camelot has been asked to raise a guaranteed 2.2 billion pounds to fund the 2012 London Olympics, which poses a potential headache for the NLC if it decides to replace it.
Sugal & Damani has been running government-licensed lotteries in India for more than three decades. Its lottery arm, which includes online games 2 Digits and Rajshree Trump, is part of a larger conglomerate that includes real estate, farm development, a jewellery showroom in Chennai, stockbroking, engineering and food shops in Mumbai.
With more than 20,000 computer-based lottery terminals across the states of Maharashtra, Punjab and West Bengal, it has a substantial business.
While its lottery division is large by Indian standards, but with an annual turnover of 450 million pounds, it is dwarfed by Camelot's 4.9 billion pounds in ticket sales for the year to March 31.
It is challenging Camelot which has run the Lottery since its inception in 1994. By virtue of its 13-year tenure as the National Lottery's operator, Camelot stands to gain from its incumbency advantage.
Camelot has been asked to raise a guaranteed 2.2 billion pounds to fund the 2012 London Olympics, which poses a potential headache for the NLC if it decides to replace it.
Sugal & Damani has been running government-licensed lotteries in India for more than three decades. Its lottery arm, which includes online games 2 Digits and Rajshree Trump, is part of a larger conglomerate that includes real estate, farm development, a jewellery showroom in Chennai, stockbroking, engineering and food shops in Mumbai.
With more than 20,000 computer-based lottery terminals across the states of Maharashtra, Punjab and West Bengal, it has a substantial business.
While its lottery division is large by Indian standards, but with an annual turnover of 450 million pounds, it is dwarfed by Camelot's 4.9 billion pounds in ticket sales for the year to March 31.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
