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Russian operator Russkoye Loto has won the contract to run a dozen lotteries raising money for the 2014 Winter Olympics.
Its Sportloto division will operate two draw lotteries and ten instant lotteries across the country, with anticipated sales of more than 30bn roubles (€700m).
Parent Russkoye Loto, owned by Finstar Financial Group, already has a market share of 33 percent through its existing portfolio of one draw lottery and 50 instant lotteries. In addition to the Sportloto Olympic lotteries, it also plans to launch further draw and instant products.
It is expected that the new Sportloto project will employ video lottery terminals (VLTs), most likely in some of the 120,000 outlets already selling Russkoye Loto products.
The contract lasts for seven yearsm and the lotteries will therefore continue running long after the 2014 Winter Olympics are held in the city of Sochi on the Black Sea.
It is not the first time that Russia has turned to gaming to fund the Olympics. The country used a lottery also branded Sportloto to finance the 1980 Moscow Games, and launched a national state-run lottery, Goslotto, in 2008 to help support the Sochi event.
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