Turkish Spor Toto To Be Privatized In 2013

The Turkish government has already embarked on an extensive privatisation program of state assets including banks, roads and bridges, and in June 2013 plans to privatise the nation's legal sports betting organisation Spor Toto.

The only legally authorised Turkish betting company, Spor Toto has increased its income to $24 billion over the last eight years, largely due to the introduction of 'İddaa,' Turkey's sole legal sports gambling game. They also run a game based on predicting the result of football matches and it is called 'toto'.

According to media, Turkish Prime Minister Recep Tayyip Erdoğan has ordered the start of the privatisation process of Spor Toto, valued by the High Privatisation Board at around $10 billion.

The prime minister himself is to determine the sale model selecting either a 'direct sale' or a 'public offering,' which targets mostly long term investors composed of foreign capital - the latter favoured by government advisors since it is viewed as potentially more profitable.

Sports Society News General Sportsbook News

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