Financial Daily from THE HINDU group of publications
Friday, Sep 19, 2003
Financial Daily from THE HINDU group of publications Friday, Sep 19, 2003 |
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Marketing
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Strategy Apollo launches online lottery in Kerala Our Bureau
Kochi , Sept. 18 LOTTUS, Apollo Group's recently launched online lottery brand on Thursday unveiled its first phase of marketing plans for Kerala. The Lottus which began its operations early this month is aiming at garnering Rs 2,500 crore as revenue from its national operations, according to Mr Raaja Kanwar, Joint Managing Director, Apollo International. "With an investment of Rs 250 crore envisaged over three years, we hope to establish a leadership position in the online lottery business by both exploiting and expanding the market potential,'' he said. He said the company has a technical agreement with Jupiters International for sourcing the most advanced online lottery technology. Jupiter International is one of Australia's largest gaming solutions companies, he added. Currently, the market for lotteries in India is valued at Rs 50,000 crore and Kerala contributes almost 10 to 12 per cent to the total market size, he said. Industry analysts, he said, anticipate the overall market to grow between Rs 10,000 crore-Rs 20,000 crore in the next three years.
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