Ladbroke bids for lottery: Hundreds of jobs are promised if move is successful
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.LADBROKE yesterday promised to bring several hundred jobs to Liverpool, where unemployment is running at more than 15 per cent, if it succeeds in its bid to run the National Lottery.
The betting-to-property group was announcing its intention to apply for the licence to run the lottery in partnership with Lord Hollick's MAI and the American telecoms group NCR, a subsidary of AT&T.
Ladbroke said it would base the lottery operation in Liverpool. It has already explored property options, but refused to say what these were. However, the group is known to have recently built a headquarters building in the city for its Vernons Pools subsidiary, which is as yet only part occupied.
Sir Christopher Benson, chairman of the consortium that will be called 'Games for Good Causes', said the choice of Liverpool gave an 'added flavour' to the bid, although it did not form its essence. That came from the experience brought to the bid by Vernons and MAI.
MAI owns 66 per cent of Meridian, the South-west broadcaster, and has already been exploring formats for televising the lottery.
Ladbroke and MAI will jointly underwrite the estimated pounds 200m investment necessary to get the lottery under way. But the ownership of the company will be split in three, with a third stake offered to institutional investors who will be approached by Games for Good Causes's financial advisers, the merchant bankers Kleinwort Benson. NCT will provide the technological expertise.
The consortium's chief executive will be Malcolm Hughes, managing director of Vernons for four years. Vernons, which has about 21 per cent of the pounds 1bn-a-year football pools market - 75 per cent of which is taken by rival Littlewoods - lobbied vigorously against the introduction of the National Lottery, claiming it would damage pools profits and lead to job losses.
But Mr Hughes said the pools campaign had been intended to ensure that the lottery and the pools could compete on equal terms. There would be no conflict of interest if the consortium won the licence to run the lottery, he insisted.
Games for Good Causes would be run 'totally independently' of Vernons to ensure fair competition between the two.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments