The multi-million dollar business of various lottery games has been extremely beneficial to both the Government of Belize and Brads Gaming Group Limited.
In 2009 the company won the original contract to administer several different lottery games, that contracts was for 10 years.
In September of 2019 the tender was offered by the government to all interested and qualified organizations to submit offers to GOB, the government stated last year that it was not going to aromatically award the contract to BRADS Gaming Group.
Today (July 3rd.) GOB announced that BRADS Gaming Group Ltd. owned by Kim Jen Chee will continue to administer all lottery games in Belize for 10 more years.
A Great Revenue Stream ( Some for Education )
It is estimated that at least $10.7-million (on Average) is spent each week on all lottery games in Belize. All lottery winnings above $750 is taxed 15% which goes to the Government of Belize, in addition to the taxes and fees paid by other companies such as SCRATCH-OFF and other games of chance and gambling.
A large portion of all gaming and gambling taxes collected by the government are earmarked for education, that is according to part III of the Gaming Control Act of Belize.
The government’s press release said –
The Government of Belize, via the Lotteries Tender Panel, has completed negotiations with Brads Gaming Group Limited for a license to administer the Belize Government Lottery for the period of April 1, 2020 to March 31, 2030.
In September 2019, the Government of Belize announced the open tender for the license to administer the Government Lotteries for the period April 1, 2020 to March 31, 2030. Consequently, a Lotteries Tender Panel was established comprising representatives from the Ministry of Finance, the Lotteries Committee, and the Gaming Control Board to assess proposals for the administration of the Government Lotteries. The evaluation was conducted in accordance with procurement policies as advised by the Ministry of Finance using a quality and cost-based approach.
Bids were received from three interested parties. The Lotteries Tender Panel evaluated and ranked all three bids based on the pre-determined criteria established for the procurement process. At the end of the evaluation process, the Lotteries Tender Panel recommended to the Government of Belize that the license to administer the Belize Government Lottery be awarded to the proposal with the highest score.
Subsequent to the Government of Belize’s acceptance of the recommendation, and as required by the Finance and Audit (Reform) Act, the negotiated license and contract, along with the tender report and related documents, were submitted to the Office of the Contractor General for review and no-objection prior to execution. Having received the no-objection from the Office of the Contractor General, the license and contract to administer the Belize Government Lottery was signed on June 26th.
The executed license and contract will be laid before the House of Representatives at its next sitting as required by the Finance and Audit (Reform) Act.
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Written & Compiled by digitalCaribbean.Live – digitalBelize.LIVE staff reporter: digitalCaribbean.LIVE@gmail.com