July 25 (SeeNews) - Bosnia's Serb Republic lottery operator Lutrija RS intends to open an international tender for selecting a partner in a joint venture company that will organise games of fortune, it said.
A draft decision for holding a tender for a partner in the joint venture company will be put to the vote at Lutrija RS' extraordinary shareholders meeting scheduled for August 2, the government-controlled company said in a Banja Luka bourse filing on Wednesday.
The future partner will hold a stake of 49% in the JV company, whereas Lutrija RS will control the remaining 51%.
Lutrija RS said that the value of its 51% in the future JV has been estimated at 6.75 million marka ($3.8 million/3.45 million euro), including its exclusive rights to hold electronic games of fortune. The estimate was made by Serbia-based consultancy KPMG d.o.o Beograd.
Therefore, the overall contribution of the future partner should amount to at least 5.0 million marka, the statement said.
The successful bidder should have experience of at least 10 years in organising lottery and electronic games of fortune, as well as international experience in at least 10 countries.
It should also be a member of the European Lottery Association and the World Lottery Association, and has an annual turnover of at least 3.0 million euro ($3.3 million) in each of the past three years.
The tender invitation will remain open for 30 days.
(1 euro = 1.95583 marka)