Indian company bids to run UK lotto
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Indian company bids to run UK lotto
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BRIAN WATT: India’s foreign takeover boom continues. Indian firms snapped up more than $2 billion worth of companies in the US and Europe last year. Now another is eyeing the jackpot: It’s bidding to run Britain’s national lottery. Stephen Beard reports.
STEPHEN BEARD: This is quite a turn-up for the book.
India was a British colony only 60 years ago. Now an Indian company Sugal Andamani is bidding to run the UK’s National Lottery.
It’s one of Europe’s biggest With ticket sales of around $10 billion a year, but Sugal Andamani is very well-qualified to run it says Ravi Bhatia of The Economist Intelligence Unit.
RAVI BHATIA: They’ve got over 30 years experience. India has a very strong tradition in the lottery business. You know they’ve run jackpots for decades now. It’s sort of big business in India. So they’re actually a good candidate for the job.
The winner of the next 10-year license to run the UK lottery will be announced early next year.
Carrying off this trophy asset, which is close to the heart of the old colonial power, would be considered quite a prize in India.
In London, this is Stephen Beard for Marketplace.
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