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 for 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 tasked 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. The report was compiled by two senior employees at Davy Corporate Finance in February and March.
Minister for Public Expenditure and Reform Brendan Howlin said today the process of evaluating tenders for the role of adviser was complete and “a contract with the preferred tenderer should be finalised in the next few days”.
“When the advisors are in place, my officials will be working with them to establish the precise nature of the competitive process for the licence and the associated timelines,” he told the Dáil.
“With respect to potential bidders for the licence, my officials have held initial meetings with a number of parties who may be interested in bidding for the next National Lottery licence.”
“It would not be prudent of me to indicate at this time the precise number of parties who have expressed an interest in the next licence,” he added.
The department expects to publish new legislation in coming weeks which will allow for the sale of the next lottery licence in advance of a bidding process.
The legislation is expected to relax the rules governing internet sales to make the licence more attractive to potential buyers.
