The National Lottery Authority says it is pushing for improved financial returns to the State as negotiations continue over its contractual agreement with KGL Technology Limited.
Director-General of the NLA, Mohammed Abdul-Salam, said the contract review process has involved the Ministry of Finance, the Attorney-General’s Department and the Presidency.
According to him, the NLA board initially sought legal guidance from the Attorney-General on the agreement before the Presidency directed the formation of a committee to review the arrangement.
He said the committee had completed its work and the Presidency had confirmed that the NLA has the legal mandate to enter into agreements with private firms such as KGL for the regulation and operation of the lottery sector.
However, Mr Abdul-Salam stressed that the current concern is the revenue-sharing formula, which the NLA believes should provide greater benefits to the State.
He said ongoing negotiations are focused on securing a more favourable arrangement that will increase the amount of money the State receives from the partnership.
