Maltco Lotteries will operate the national lottery until 2022, the Finance Ministry announced yesterday.
The company, which has run the lottery since 2004, was awarded a fresh 10-year concession after offering a better financial bid than rival bidder GTech (a Lottomatica subsidiary).
Following a call for tenders in October, both bidders satisfied technical and financial requirements as well as due diligence criteria, the ministry said.
The final stage of the process took place yesterday, where the financial bids were opened in the presence of a notary and representatives from both companies. Maltco was found to have submitted a bid of €39.1 million while GTech’s bid was €36.2 million.
Last April, Maltco said it paid €120 million in taxes to the government in the seven years since it was set up, and €6 million were transferred to the Good Causes Fund from unclaimed prizes.