IZI Group PLC will increase the Lotto payout ratios of the Maltese National Lottery in an attempt to “curb the rampant illegal gaming linked to this game”, according to Malta Today.
National Lottery plc, a fully owned subsidiary of IZI, was named as the next operator of the Maltese National Lottery after a successful €105m bid.
Last month, IGT was announced as the new lottery technology and services provider for the upcoming Maltese National Lottery Concession, earning a 10-year deal.
Now, IZI has pledged its commitment to limiting the effects of those who take illegal bets on the Lotto and Super 5 numbers, with the illegal gaming reported to be worth in the millions.
The company also recently published its prospectus containing a €30m bond issue, of which just over half (€16.2m) will finance new hardware terminals, lottery software systems, extended real estate and staffing for the Maltese National Lottery.
IZI registered over €20.1m in revenues during 2021, with a net loss of €946,000.
The firm is still negotiating a €45m loan with a Maltese bank in order to finance the first €40m payment to the country’s government, apart from a €4m performance security requirement.
IZI Finance, the finance company of IZI Group, recently announced the appointment of its Board of Directors, publishing the roles of seven key members.