Davy Stockbrokers to advise Government on lottery licence
The Government is to appoint Davy Stockbrokers as its special adviser to the upcoming lottery tendering process. The Dublin-based brokerage was one of nine applicants considered for the role by the Department of Public Expenditure and Reform.
The Government plans to offer an extended 20-year lottery licence and an enhanced operator’s fee in return for an upfront payment, part of which will fund the proposed children’s hospital.
Davy will be formally appointed next week following a stand-still period in which unsuccessful bidders are informed and the final terms of the contract are agreed. The advisers will be charged with drawing up the structure of the competition and evaluating bids for the new licence.
Davy Stockbrokers was paid just €615 by the Government for a report setting out options for the sale of the next lottery licence earlier this year.