Ontario Teachers' pension fund adds Irish deal to lottery holdings - Reuters
The Ontario Teachers' Pension Plan said on Thursday that it finalized the terms for a 20-year license to operate the Irish National Lottery through a unit, a move that expands its presence in the region and industry, reports Reuters. The pension fund's Premier Lotteries Ireland Ltd subsidiary was picked in October as the preferred bidder for the license. With final terms settled, it is expected to begin operating the lottery over the next year, the pension fund said. The pension fund, which agreed to pay a €405 million (US$554.10 million) license fee to the Irish government, also owns Camelot Group, the operator of the UK National Lottery. Camelot will provide consulting services to the Irish lottery's existing management.
27 February 2014•1 min read
