As I announced on 3rd October 2013, Premier Lotteries Ireland Limited, a consortium comprising Ontario Teachers’ Pension Plan (the owner of the Camelot Group), An Post and An Post pension funds, has been selected as the preferred applicant for the next National Lottery licence. Premier Lotteries Ireland Limited has met the Essential Requirements provided for in the competition for the licence and has submitted the highest Licence Fee proposal which is 405 million euro.
Discussions on finalising the terms of the licence will commence shortly between the Department of Public Expenditure and Reform and the Preferred Applicant. These discussions are scheduled to be completed in November with a signature date in December.
Under the terms of the new licence, half of the upfront payment is to be paid within ten working days of the signature of the licence. The remaining half of the upfront payment is to be paid within nine months of the signature of the licence.
I have made clear from the outset of this process that part of the upfront payment will be used to help build the new National Children’s Hospital. The purposes for which the remaining funds will be used will be decided in the context of the Budget.