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Uthingo
Uthingo Management (Pty) Ltd was the operator of the South African National Lottery until March 2007. It was formed in 1996 to compete for this right amongst a total of three consortia bidding for the licence. Uthingo is not tasked with the allocation of funds to beneficiary organisations, but is instead mandated to raise revenue for the National Lottery Distribution Trust Fund. It is a fully Black Economic Empowerment compliant business, with 70% ownership locally, and the remaining 30% being owned by international players who provided the tools and knowledge to run a lottery effectively. Uthingo lost the bid to renew its license as the lottery operator to Gidani after a legal battle and negotiations with the Ministry of Trade and Industry. During that period (March to October 2007) the South African National Lottery was suspended and the first Lotto draw after Gidani took over from Uthingo was on 13 October 2007. External links Uthingo homepage Gambling companies of South ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South African National Lottery
The National Lottery is operated by ITHUBA Holdings, to whom the licence was granted in 2015. The lottery is regulated by the National Lottery Commission, and was established in 2000. Lottery tickets may be bought only by people of at least 18 years of age. In the 2007 fiscal year transaction values totalled R3.972 billion, with an average of five million transactions per week. In the 2012 National lottery generated R4.7 billion in sales of Lotto and Powerball tickets. Lotto is the most popular type of gambling in South Africa but Powerball has been the faster-growing for last years due to its high payouts. History The National Lottery was introduced to South Africa on 11 March 2000. At the time it was run by Uthingo. After a marketing effort that aimed to reach 80 percent of South African homes directly more than 800,000 tickets were sold in the first day of availability Nearly R70 million worth of tickets were sold in the first three weeks of operation. In October 2002 op ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gidani
The Gidani consortium was the operator of the South African National Lottery, the most popular form of gambling in South Africa by transaction volume and value. Gidani was selected to take over operation of the lottery after the seven-year contract of Uthingo, the first operator, expired on 31 March 2007. However, following legal challenges about the award of the licence the lottery was suspended until October 2007. The Greek lottery operator Intralot INTRALOT is a Greek company that supplies integrated gambling, transaction processing systems, game content, sports betting management and interactive gambling services, to state-licensed gaming organizations worldwide. The company acts both as a ... was the technical partner to the group. Other shareholders included The Women’s Development Foundation, Vunani Capital, Partnership Investments, Nozala Investments and the Mabindu Development Trust. References Gambling companies of South Africa {{SouthAfrica-company-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Lottery Distribution Trust Fund
National may refer to: Common uses * Nation or country ** Nationality – a ''national'' is a person who is subject to a nation, regardless of whether the person has full rights as a citizen Places in the United States * National, Maryland, census-designated place * National, Nevada, ghost town * National, Utah, ghost town * National, West Virginia, unincorporated community Commerce * National (brand), a brand name of electronic goods from Panasonic * National Benzole (or simply known as National), former petrol station chain in the UK, merged with BP * National Car Rental, an American rental car company * National Energy Systems, a former name of Eco Marine Power * National Entertainment Commission, a former name of the Media Rating Council * National Motor Vehicle Company, Indianapolis, Indiana, USA 1900-1924 * National Supermarkets, a defunct American grocery store chain * National String Instrument Corporation, a guitar company formed to manufacture the first resonator ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Black Economic Empowerment
Black Economic Empowerment (BEE) is a policy of the South African government which aims to facilitate broader participation in the economy by black people. A form of affirmative action, it is intended especially to redress the inequalities created by apartheid. The policy provides incentives – especially preferential treatment in government procurement processes – to businesses which contribute to black economic empowerment according to several measurable criteria, including through partial or majority black ownership, hiring black employees, and contracting with black-owned suppliers. The preferential procurement aspect of BEE has been viewed as paradigmatic of a sustainable procurement approach, whereby government procurement is used to advance social policy objectives. So-called "BEE deals" – transactions aiming to increase black ownership of large businesses – have been conducted on a large scale, with BEE transactions concluded between 1994 and 2005 valued at between ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
