BNDES aims to complete LOTEX Brazil sale by February 2019

first_img StumbleUpon Belgian Pro League live betting streaming deal for Stats Perform August 21, 2020 Share BNDES – Brazil’s national development bank has further postponed the tender process for its agreed sale of LOTEX, the state-owned operator of instant win (scratch) games.The sale of LOTEX had received its original government approval on August 2017, allowing BNDES to begin the tender process for 2018, which was reported to be seeking a minimum of BRL 4 billion (€1 billion) transaction for the sale of the state asset.Nevertheless, a series of blunders by BNDES and Brazilian government counterparts have seen the LOTEX tender and auction be continually delayed or withdrawn.During Q3 2018, BNDES withdrew its third attempt to process a LOTEX tender, as international incumbents refused to participate in the concession as documents did not clarify the position of state-owned CAIXA Federal as national lottery operator and lead disruptor of LOTEX products.The tender embarrassments have put pressure on newly elected Jair Bolsonaro’s ‘Partido Social Liberal – PSL’ to deliver on the mandate as a first directive.This week BNDES published its new schedule, outlining that it would auction LOTEX on 5 February 2019, with bidding parties allowed to submit proposals by 30 January 2019.BNDES and the government’s concession for Brazilian instant-win and scratch card products is a maintained at a period of 15-years.The Brazilian government allows for three types of lottery licensing; national lottery draw games; Mega SENA, LotoFacil, LotoMania and Dupla Sena) and sports lotteries (Quinia and Lotogol), operating alongside LOTEX instant games.As yet, leading international lottery operators’ such as IGT, Intralot SPA and Scientific Games have not confirmed whether they will participate in BNDES latest tender process. Brazil appoints agencies to accelerate Sports Betting launch August 21, 2020 IMG Arena nets major media extension with Brazil’s Liga Nacional de Basquete August 19, 2020 Related Articles Submit Sharelast_img read more

Budget issues at Cal Poly raise concerns

first_imgPOMONA – Concerns over cuts to Cal Poly Pomona’s budget have prompted calls for more transparency in the university’s budget process, and for the re-establishment of a budgeting committee that would include faculty participation. Gwen Urey, president of the Cal Poly chapter of the California Faculty Association, said some faculty feel the university is experiencing budget problems that may be the result of past spending decisions on the part of Cal Poly administrators. Another factor may be lowered availability of state funding for the campus, but until faculty members can sit down and look at the university’s finances that won’t be known, Urey said. Faculty can play a part setting priorities for the campus and determining “how to make the core schedule (of classes) get the priority it already has,” she said. The university was on the verge of making deep cuts in the course schedule of the mathematics and statistics department, but was able to avert them Oct. 26 after intense objections by faculty and students. But administrators said avoiding slashing the department’s class schedules will mean cuts in other areas. On Friday afternoon, University President Michael Ortiz sent out a message to faculty and staff saying he has directed Ed Barnes, Cal Poly vice president of administrative affairs and chief financial officer, and Provost Herman Lujan to carry out an internal review of the budget and expenditures of the College of Science. The mathematics and statistics department is located within that college. Barnes said Ortiz has made a commitment to provide a means by which faculty can have input into academic budgeting. “By Jan. 31, we’ll roll out some process,” Barnes said. Exactly what that process will look like is still being developed, he said. The administration has made a commitment to offer all classes students require, Barnes said, and refrain from making cuts in academic programs. Where future cost cutting will take place is still being worked out, he said. Faculty members have said the university received about $15 million more than it did next last year and would like to know how that extra money is being spent. Mark Lopez, Cal Poly’s director of budget services, said Cal Poly did receive additional funding from the state this academic year but the vast majority has gone to cover salaries and benefits for faculty. Cal Poly Pomona, like others in the California State University system, receives funding from the state based on full-time enrollment figures, administrators said. The universities project enrollment and receive state budgets funding based on those figures. However, if a campus receives more students than it expected, it can take as much as a year before the funding catches up, Barnes said. (909) 483-9336 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREStriving toward a more perfect me: Doug McIntyre The budget issues are also being discussed by the campus’s Academic Senate. “This is something of concern to all of us,” said John Self, chairman of the campus Academic Senate. Self said Academic Senate leaders believe getting faculty involved in the budget process would shine light on the school’s financial status. “When things aren’t known, what you tend to do is think the worse,” Self said. For the faculty to have a part in the budget is in “everybody’s best interests,” he said. last_img read more