Berjaya Ventures into Vietnam’s Lottery Market with $2.1 Billion Investment

A firm from Vietnam, financially supported by the Malaysian gaming powerhouse Berjaya Corporation Berhad (BCorp), has obtained sole rights to manage a digital lottery in Vietnam for the upcoming two decades. This endeavor signifies a considerable enlargement for Berjaya within Vietnam’s flourishing lottery sector.

This undertaking, a joint effort with Vietlott, Vietnam’s existing solitary lottery administrator, constitutes a sizable $2.1 billion financial commitment. The strategy involves commencing with a lotto jackpot game by the middle of 2016, succeeded by an electronic game at a later stage. Initially debuting in Ho Chi Minh City, the implementation will progressively encompass the entire country over five years, targeting a widespread network of 10,000 terminals.

BCorp is optimistic that this extended exclusive permit, combined with the lottery industry’s inherent difficulties for new entrants and restricted rivalry, will furnish a steady base for sustained expansion in Vietnam. They intend to fund the project through internal capital and credit secured against anticipated revenues.