Business Opportunity: Myanmar e-lottery may be opened to foreign investment

Myanmar government seeks to increase tax revenue collected via lottery.

Myanmar have recently submitted a new lottery bill to parliament.

The bill was submitted by the country’s Ministry of Planning and Finance as it seeks to oversee the operations of the state-owned Aungbarlay Lottery.

The government has also announced that it may seek help from overseas firms in helping the country launch digital lottery sales.

Currently, Myanmar’s Aungbarlay Lottery is a monthly lottery with tickets printed at a printing plant in Wazi.

The Aungarlay lottery was first introduced in 1938 under British rule and has been maintained ever since however there have been numerous concerns over the rather lapse legislative guidelines the lottery is run under prompting the move from the Ministry of Planning and Finance.

Burma’s state lottery contributed USD 22m to the government’s coffers in a 2015/16 report. The Ministry of Planning and Finance believe they can increase that figure by K17b (approx USD 13 mil) with the introduction of an e-lottery making it easier for players to purchase tickets.

In order to do this, the ministry and government appear to accept that help from international firms with experience in the sector could ease the way to the digital transition by providing technology and aspects of management experience to the process.

In the submitted Lottery Bill, it states that the Ministry “may, with the approval of the government, cooperate for mutual benefit with domestic and foreign companies or partnerships or individuals in accordance with existing laws.”

It also includes harsh measures for people trying to take advantage of the system and sell lottery tickets illegally.

Source: Casinopedia


To read the same post in the local Myanmar newspaper click here

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