The Inteltek joint venture of Greek lottery firm Intralot and Turkish mobile telephone operator Turkcell has been revealed as the best bid to operate Turkish sportsbetting firm Iddaa.
Inteltek currently operates Iddaa and Mustafa Turgut, Chairman for the tender commission, stated that the firm had made an offer to take 1.4 percent of revenues under an income-sharing scheme, the lowest of three offers in the final round of bidding.
The tender is subject to approval by regulatory bodies and, if approved, Inteltek would be given the rights to operate the company, which has grossed nearly $5.6 billion since its launch in April of 2004, under a ten-year deal.
A consortium of Turkey's Dogan Yayin Holding, Italy's Lottomatica and SNAI made the best bid of 6.1 percent in the first round while Britain's Ladbrokes was also involved as part of a venture with Turkey's Lotos. In the second round, the Dogan consortium had asked for 2.1 percent of Iddaa’s total revenues while the Lotus-Landbroke partnership wanted 1.4 percent.
'After a maximum three-day approval period, the administration will make its judgment and inform the parties of the result in writing,' said Yunus Ucar, head of the Turkish Government’s betting authority.