Turkish Sports Betting Company Holds Tender for Operating Rights
Greek online gambling company, Intralot, and the Turkish mobile phone operator, Turkcell, have made the best bid over a tender that took place on Thursday for a sport betting company called Iddaa, via their joint venture “Inteltek”.
According to Mustafa Turgut, the Tender Commissioner Chairman, as the present operator of the Iddaa sports betting company, Inteltek’s offer was to take over 1.4 percent of the revenues under a unique revenue sharing scheme. Their offer was the lowest of three and occurred during the second round of betting, which was also the last.
The decision of whether or not to grant Inteltek the rights to operate the sports betting company Iddaa now has to be determined by Turkish authorities. If granted, they will operate the sports betting company for a period of 10 years.
According to the head of the government’s sports betting authority, Yunus Ucar, the decision making process is expected to span over a maximum period of three days. Once the administration hs reached a decision, it will inform the parties in writing of their fate regarding the sports betting company’s operation.
A group of companies including Turkish Dogan Yayin Holdings and Italian Lottomatica and Snai were those to have made the best bid over 6.1 percent of the sports betting company during the first round. Dogan Yayin had their shares rise 8 percent in the first round, yet after the tender this fell to only 2 percent. British sports betting company, Ladbrokes, were also present at the tender, and expressed interest to enter into a venture with Turkey’s Lotos.