Berjaya set to launch Vietnam lottery

Berjaya set to launch Vietnam lottery

Thursday, January 21, 2016 Totally Gaming
Chairman and CEO Robin Tan said the deal is of "tremendous significance"

Malaysian gaming company Berjaya Corp has finally been given the go-ahead to launch Vietnam’s nationwide computerised lottery in an 18-year deal.

Berjaya, founded by tycoon Vincent Tan, first proposed the project to the Vietnamese government in 2010 and won the bid to run the lottery in May 2014.

The conglomerate revealed that it has this week received the approval of the Hanoi Department of Planning and Investment to kick-start the lottery. As the project delivery partner, Berjaya group will provide state-of-the art and enhanced secure gaming technology, with 10,000 terminals set to be rolled out over the next five years.

Robin Tan, BCorp chairman and chief executive, said in a statement: “This award is of tremendous significance for the group as it allows us to strengthen our existing business and socio-economic relationship in Vietnam, which dates back to 2005.

“We have made substantial investments in property development and the hotel and stockbroking industries in Vietnam over the years.”

The estimated $210.6m (€193.3m) cost of the project will be supported by internally generated funds and/or borrowings.

The Berjaya group’s other investments in Vietnam include the Sheraton Hanoi Hotel, InterContinental Hanoi Westlake, and Long Beach Resort Phu Quoc.

Tan said: “It is indeed a great honour to be selected to work with Vietlott. We will certainly nurture a gaming business model geared up for progressive sustainable growth, given the Berjaya group’s 30 years of proven experience in the gaming industry.”

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