After failed attempt to sell its lottery licensing unit
Brazil's Caixa launches online lottery
In early July, the bank had to cancel a planned auction of its lottery unit due to a lack of bidders.
2018-08-13
Reading time 29 seg
A month after failing to sell its lottery licensing unit Caixa Instantanea SA., the Brazilian state bank Caixa Econômica Federal introduced on Friday an online lottery service.
Caixa Chief Executive Nelson Souza said he expects the online lottery to boost volumes and allow the bank to charge a higher fee, around 12 percent of revenue, compared to conventional lottery ticket sales, in which the bank keeps a 10 percent fee.
In early July the bank had to cancel a planned auction of its lottery unit due to a lack of bidders.
“We are now considering a potential change in the business model,” Souza told journalists at a press conference. (Reporting by Aluisio Alves Writing by Tatiana Bautzer Editing by Phil Berlowitz )
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