National lottery sold for one Euro. Purchased also the losses worth 6.5 million Euros

National lottery sold for one Euro.  Purchased also the losses worth 6.5 million Euros

Tirana, 18 August 2016/Independent Balkan News Agency

By Edison Kurani

National lottery, which has the exclusive rights for the gambling games has been sold for one Euro. If the debts are included  the business will loses in its sale.

The Competition Authority notifies that 100 percent of the capital of the company  Albanisch Österreichische Holding Gesellschaft m.b.H (“Target”), owned by Österreichische Holding Gesellschaft m.b.H was purchased by the company Novamatic Gaming Industries GmbH.

According to the transaction agreement, the transaction value is estimated based on a cost price of one Euro, reduced to a potential regulated value, with a regulation threshold of 6.5 million Euros. This amount constitutes all the debts that sold company has to other parties. Novomativ is also an Austrian enterprise and owns the company Eagle Investment, which operates in Albania with gambling games Astra Albania, Adriatic Game, Albaten and recently also with National Lottery. National lottery got the license for a decade in 2012. The existing lottery was the state one managed by Red Cross, but with little profit. A long experienced and lucrative lottery in Austria and beyond, National lottery in Albania wasn’t as successful and got in debts. According to the data of 2014 balance sheet, the last one submitted to the National Business Center, the National Lottery continues to lose huge amounts of money, 3, 5 million Euros approximately an equal figure to the income of 4.2 million Euros. The company losses throughout the years have reached the amount of 8 million Euros.  /