Something Rotten in the State of
I recently received correspondence about the Anguilla Lottery. I do not know what the status of this entity is. I recall that John Benjamin lost his right to publish “Talk Your Mind” on Radio Anguilla for permitting someone to question the motivation for certain government-connected persons to start up a lottery in Anguilla, contrary at the time to the provisions of the criminal law. This is what my correspondent had to say:
May I add to your list of boards and committees under a public trust a very suspicious entity, not a Government Board as such, but doubtless owned by Ministers and maybe others in the Government. That is the partnership which takes a percentage of all bets on the Government approved monopoly lottery. To an old hand, there is a certain odor there.
What is he talking about? Do you, dear reader, know anything about how the public lottery operates? If it is as questionable as my correspondent suggests, please let us know.
GTech Corp. of West Greenwich, R.I., an operator of lottery games and maker of lottery gaming technology, has entered into an
ReplyDeleteagreement to acquire all of the shares of privately held Leeward Islands Lottery Holding Co. Inc. (LILHCo) for $40 million in
cash.
LILHCo is a lottery operating company based on the Caribbean islands of Antigua and St. Croix. The acquisition, contingent on
regulatory and gaming license approvals and certain other closing conditions, is expected to be completed in the first
quarter of GTech's fiscal year 2005.
"Our key focus remains on growing our core lottery business while creating sustainable long-term shareholder value," said
GTech president and CEO W. Bruce Turner, in a statement. "We believe the acquisition of LILHCo gives GTech a strategic
foothold in the Caribbean lottery market, particularly with its regional Caribbean Lotto game, and also represents
significant growth opportunities in additional jurisdictions within the Caribbean islands."
LILHCo directors Robert B. Washington Jr., chairman and CEO; Robert L. Johnson, founder and CEO of Black Entertainment
Television; and attorney Johnnie L. Cochran, Jr. are expected to continue to serve on the LILHCo board.
GTech operates lotteries in Barbados, Jamaica, Puerto Rico, and Trinidad & Tobago, and is developing a video lottery solution
for The National Lotteries Control Board and The Betting Levy Board in Trinidad & Tobago.
Under the terms of the acquisition, GTech will gain eight lottery contracts from LILHCo, which holds long-term licenses to
operate lotteries in Antigua/Barbuda, Anguilla, St. Kitts/Nevis, St. Maarten/Saba/St. Eustatius, and Turks & Caicos, and
operates lotteries in Barbados, Bermuda, and the U.S. Virgin Islands.
Established in 1994, LILHCo and its subsidiaries employ 139 people throughout the Caribbean community.
GTech stock opened at $58.35, down five cents from yesterday’s close.
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