Online Lottery: Playwin Commits Rs 500 Cr To Mizoram For 7 Yrs

Mumbai: | Updated: Jul 31 2003, 05:30am hrs
Playwin has guaranteed a minimum sum of Rs 500 crore spread over a period of seven years to the state government of Mizoram for licensing its online lottery.

Under a similar licensing agreement with Arunachal Pradesh government, Playwin will pay a sum of Rs 18 crore per annum for 15 years. Playwin will operate as a sub-distributor.

The other operators, who are sub-contracted include the Forbes-Shapoorji Pallonji group, Apollo International and Martin Lottery. The main distributor to get the licence is Delhi-based NV Marketing.

Playwin will pay the Mizoram government Rs 35 crore as annual assured revenue in the first year of its operations, said Pan India Network Infravest Pvt Ltds chief executive officer Sanjay Das.

The company will launch the Arunachal Pradesh online lottery in the first week of August, while the Mizoram lottery will start in early September. We will start in Arunachal Pradesh with a weekly draw. A daily draw will be introduced by August-end, he added.

Playwin Infravest Pvt Ltd has changed its corporate name to Pan India Network Infravest, but will retain the Playwin brand for online lotteries.

We plan to launch several online services like railway booking and paying electricity bills through the infrastructure we have already created. It will be like a national electronic retail market. So we decided to change the name. Playwin will continue to be the lottery brand from the Essel Group, said Mr Das.

The company has so far invested Rs 400 crore. The revenue in the first 16 months of operations has been Rs 840 crore, said Mr Das.

The initial investment for the state lotteries of Mizoram and Arunachal Pradesh will be around Rs 50 crore, out of which Rs 30 crore will be towards marketing and advertising.