Dáil Éireann Debate, Thursday - 27 April 2023
79. Deputy Sean Sherlock asked the Minister for the Environment, Climate and Communications if he has been notified of An Post’s decision to sell its share in the National Lottery; and if he will make a statement on the matter. [18000/23]
View answerPremier Lotteries Ireland (PLI) holds the license to operate the National Lottery until 2034 having been awarded a 20 year licence by the State in November 2014.
PLI is an Irish incorporated designated activity company whose shareholders comprise An Post, An Post Pension Funds and the Ontario Teachers’ Pension Plan (OTPP). An Post holds 10.7% of the equity of PLI and the An Post Pension Scheme also holds 10.7%. The Ontario Teachers’ Pension Plan (OTPP) is the largest shareholder with 78.6%.
With Canadian $242.5 billion in net assets, OTPP is an independent organisation that invests the pension fund's assets and administers the defined benefit pensions of 331,000 active and retired teachers in Ontario. It has a successful track record in the lottery industry through its shareholdings in the Camelot Group, which includes UK National Lottery operator Camelot UK Lotteries Limited.
Officials were advised at a quarterly meeting with An Post on 27 March that there could be a transaction to sell the shares of PLI in the calendar year 2023 and that OTPP, the majority shareholder, were considering such an action. No further notification has been received from An Post, which as a minority shareholder would be obliged to follow OTTP under the terms of the shareholder agreement.
An Post has advised that any sale of the National Lottery remains speculative at this stage.
