Lotto extension was in the works months before laws allowed it
The Victorian government has granted a 40-year extension to The Lottery Corporation without a public tender process, following a plan that was developed months before the law was amended to permit such a deal. This extension was made in exchange for an upfront payment exceeding $1.1 billion. The decision has faced criticism regarding the lack of transparency in the negotiation process.
- ▪The plan for the lottery extension was initiated at least six months before the law was changed.
- ▪The Victorian government awarded TLC a 40-year extension without a public tender process.
- ▪The upfront premium payment for the extension exceeds $1.1 billion.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.