14 January 2013

Liberia: British Company to Invest U.S.$2.5 Million in Lottery

The Executive Director of the Liberia National Lottery has disclosed that a British Company known as Mercury has reached an agreement with the Liberian Government to invest US$2.5 million in the Liberia National Lottery.

Mr. Martin Kollie, told reporters recently at his Duport Road Office outside Monrovia that Mercury is one of the biggest lottery companies in Great British, and that the investment will enable the Liberia National Lottery to spread its operations throughout the 15 political sub-divisions of the country.

He also pointed out that the investment has given legal right to Mercury, owner of 'Premium Sports' to operate the betting or gaming aspect behalf of the National Lottery, and that quarterly fees will be paid into the government's coffers.

"The US$2.5 million investment has widened the scope of operations for the national gaming of the country. Though, we give them the right to operate our income generation portion of the Liberia National Lottery. I see this as great jump for the corporation", Mr. Kollie added.

The Liberia National Lottery noted that it has been faced with serious budgetary constraint, noting that the corporation received US$42,000 annually from the Government of Liberia, something he said was very inadequate for its operation.

Mr. Kollie appealed to the government to increase the allotment to enable it vibrantly serves the public. At the same time, the Lotto boss has announced plan to retire 20 employees, who have honorably served the corporation protractedly.

Mr. Kollie said management has already generated L$8 million to carry out the retirement exercise, and was awaiting signal from government to go ahead with the process.

Copyright © 2013 The New Dawn. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.