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Move to privatise Brazillian lottery postponed

Published

6 years ago

December 6, 2018

Niji Narayan

Move to privatise Brazillian lottery postponed

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The National Bank for Economic and Social Development of Brazil has declared the postponement of the process to privatise the country’s exclusive instant lottery called Lotex. The move will not materialise until 5 February 2019. The earlier decision was to start the process in the first week of December.

The country’s President-elect Jair Bolsonaro will take charge on 1 January 2019. The authorities seem to think it appropriate to start the process after the new president formally assumes office.

The new postponement was announced through the official journal of the federal government of Brazil, the Diário Oficial da União, in which it was detailed that offers will be accepted next 30 January 2019, once Bolsonaro is already President. The authorities project that the privatisation will allow the state to rake up to €147 million in three years.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.