Brazilian Lottery Tender In Tatters As Bidders Stay On The Sidelines

A troubled process to privatize Brazil’s instant lotteries market failed to attract any bidders by Monday’s deadline, dealing the latest in a series of setbacks for efforts to liberalize the country’s gambling sector.

Any groups interested in participating in the planned July 4 auction for a 15-year exclusive license to operate so-called “Lotex” instant games were required to submit a sealed offer and provide supporting documentation by 1pm on Monday afternoon.

However, that deadline came and went without a single bid being received, according to Brazil’s respected Valor Economico business newspaper.