Premier Lotteries Ireland – a consortium involving An Post and Ontario Teachers’ Pension Plan, owner of UK operator Camelot, has Signed a contract that will pay the government €405 million for the National Lottery. The new operators are expected to take over in about a year. It is the first time the National Lottery will be operated by private entities.
Under the new contract, Premier Lotteries Ireland has to roll out a new technology infrastructure within 18 months of operation. The sale came amid declining sales, which has also led to the relaxing of some rules affecting online sales.
The Labour Court will rule later this year on lottery staff’s demand for a one-time “recognition payment” that they base on a claim they have helped grow the business prior to the decision to privatize.