License for Lotteries Awarded to "Österreichische Lotterien GmbH"
Three of the four applications failed due to the minimum requirements of the Austrian Gaming Law.
Press Release, 10 October 2011
The Federal Ministry of Finance states that the consultative advisory board - after an in-depth examination of the submitted documents - has prepared its final report on the outcome of its consultations about the public search for parties interested in obtaining lottery licenses and has forwarded this report to Finance Minister Maria Fekter and State Secretary Andreas Schieder. The Ministry has subsequently issued the official decision that the company " Österreichische Lotterien GmbH" will receive the advertised lottery license. The now assigned license is effective as of October 1, 2012 and remains valid for 15 years.
According to the final report, three of the four applications failed due to one or several of the minimum criteria of the Gaming Law and did not meet these. The lottery license is the most broad-based Austrian license for games of chance and includes Lotto, Toto, Bonus Game, instant lotteries, class lotteries, numbers' lottery and numbers' game, electronic lotteries, bingo and keno. That is why government legislation has associated strict protective regulations with this license. For example, a lottery license may be granted only to a license applicant who possesses a transparent company organization, unproblematic ownership structures, technically sufficiently qualified managers, and a statute that does not endanger the secure and proper handling and processing of the games of chance. In addition, there must be effective oversight processes in place in order to be able to ensureclose monitoring of the licensee. Finally, equity in the amount of 109 million euros must be demonstrated to ensure sufficient financial solidity of the licensee so that the licensee is in a position to fulfill all obligations to winners.
Finance State Secretary Schieder wishes to thank all persons who have contributed their time and effort to this crucial work.