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British Company to Invest US$2.5m in Lottery

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British Company to Invest US$2.5m 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.


 

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