The expectation of collection with grant is at least R$ 642 million (US$158m) in three years. The auction will take place at 10 am on B3 in São Paulo. Proposals must be submitted by interested parties on November 27 from 10:00 am to 1:00 pm.
The BNDES, the Ministry of Finance's Secretariat for Fiscal, Energy and Lottery Monitoring (Sefel) and the Secretariat for the Investment Partnerships Program (SPPI) identified points that could be improved in the auction announcement and in the concession contract, improving perception investors, but without prejudice to the levy.
The new bidding document now provides for the possibility of abandoning the auction without loss of the bid guarantee until the contract is signed, in case of negative changes in the operator's award percentages or revenue.
The information is published in the Federal Official Gazette (DOU) on Thursday, 27. The announcement with the rules of the event can be obtained from this Thursday at the headquarters and the BNDES website.
This is the second attempt by the federal government to grant the exploitation of the so-called " raspadinha” (scratch card) to private initiative. A first lottery auction was scheduled for early July, but no proposal was submitted.
In addition, payment of the grant, which would be made in one go, will be made in four annual installments, without there being any change in the assumptions of the technical, economic and financial feasibility studies. The goodwill due by the winner must be fully paid in the first installment, which is the condition for signing the agreement.
The requirement was maintained that the participants have experience in the operation of an instant lottery project with a collection of at least R$ 1.2 billion (US$295m) in 12 months. The novelty is that such amount can be proven through the sum of different operations, provided that at least one is equal to or higher than R$ 560 million (US$138m) and none is less than R$100 million (US$24.5m).
The information is published in the Federal Official Gazette (DOU) on Thursday, 27. The announcement with the rules of the event can be obtained from this Thursday at the headquarters and the BNDES website.
This is the second attempt by the federal government to grant the exploitation of the so-called " raspadinha” (scratch card) to private initiative. A first lottery auction was scheduled for early July, but no proposal was submitted.
These are the highlights of the new LOTEX edicts:
- The judgment criteria of the Written Economic Proposal will be the biggest offer for the payment of the Initial Instalment for the Grant Offer to the Granting Power, with inversion of the qualification phase, according to item II of article 15 and article 18-A, both of Federal Law.
- The term of the Contract is 15 (fifteen) years, counted from its Effective Date, already included in this term the necessary period to the organization and operation of LOTEX, meaning, the necessary period to the effective start of the commercialization of Physical Betting and Virtual Betting.
- The amount of the biggest offer for the payment of the Initial Instalment for the Grant Offer cannot be inferior to R$ 156.625.445,92 (one hundred and fifty-six million, six hundred and twenty-five thousand, four hundred and fourty-five reais and ninety-two cents), containing 2 (two) decimal places.
- The Annual Instalments for the Grant Offer, corresponding 03 (three) fixed instalments, shall be payed in the following terms:
- (i) R$ 162.391.926,11 (one hundred and sixty-two million, three hundred and ninety-one thousand, nine hundred and twenty-six reais and eleven cents) until 12 (twelve) months from the signature of the Contract;
- (ii) R$ 162.391.926,11 (one hundred and sixty-two million, three hundred and ninety-one thousand, nine hundred and twenty-six reais and eleven cents) until 24 (twenty-four) months from the signature of the Contract; and
- (iii) R$ 162.391.926,11 (one hundred and sixty-two million, three hundred and ninety-one thousand, nine hundred and twenty-six reais and eleven cents) until 36 (thirty-six) months from the signature of the Contract.
- (The amount of the Annual Instalments for the Grant Offer described in subclause 4.3, above, shall be adjusted by the IPCA, pro rata, since August 1, 2018 until the due date provided for in this Contract).
- The estimated amount of the Contract, is R$ 14.431.580.703,73 (fourteen billion, four hundred and thirty-one million, five hundred and eighty thousand, seven hundred and three reais and seventy-three cents), which corresponds to the estimated real value of the sum of the Gross Revenue of the Concessionaire over the Concession Period. This amount is purely indicative and does not bind any claim of economic and financial rebalancing under the Concession.
- The Guarantee of the Proposal shall be presented in the minimum amount of R$ 28.753.174,59 (twenty-eight million, seven hundred and fifty-three thousand, one hundred and seventy four reais and fifty-nine cents),and may be provided in cash, Government bonds, performance bond or bank guarantee.
Source: GMB
