SECAP Allows CAIXA To Increase Lottery Prices In Brazil

SECAP, Brazil’s Finance & Economic Ministry’s planning agency, has confirmed by issuing a statement that it will allow national bank CAIXA to increase prices across its range of lottery goods.

In 2020, CAIXA will be allowed to increase its ticket prices for its eight lottery items in 28 percent on average. The update shows that since May 2015, CAIXA is introducing its first price increase for tickets.

SECAP reveals in its report that CAIXA has been permitted to raise lottery prices in order to preserve ‘ sustainable economic growth in the coming years ‘ and in view of Brazil’s expanding next year’s lottery market.

“This will contribute to maximising the management portfolio of lottery products, providing the Public Company with better conditions to cope with the competitive environment in the lottery market” – SECAP detailed in its statement.

BNDES–the national development bank of Brazil, approved the sale of state-owned instant winning operator LOTEX to 50/50 IGT and Scientific Games Corp (SGC) joint venture’ Consórcio Estrela Instantânea’ after seven failed attempts this October.

A 15-year concession was won by the IGT-SGC joint venture, having been the only holder to participate in the BNDES tender process.

The IGT-SGC joint venture of LOTEX will commence by mid-2020 with an upfront tender of R$97 million (€ 21 m).