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Taiwan Lottery places bets on new game

Taiwan Lottery Co (台灣彩券公司), which reported losses of NT$345 million (US$10.7 million) last year, aims to break even this year with the introduction of a new Super Lotto (威力彩) game next Tuesday, a company executive said yesterday.

"With the increase of the guaranteed minimum jackpot prize -- from Big Lotto's [大樂透] NT$100 million to NT$250 million for the new Super Lotto -- Taiwan Lottery has confidence in this year's ticket sales," company chairman Oliver Shang (尚瑞強) said yesterday.

The first drawing of Super Lotto will take place on Thursday. Starting the following week, the drawings will be every Monday and Thursday.

The company estimates ticket sales during the first round will reach NT$200 million.

"From past experience of selling Big Lotto tickets, we expect to see sales of Super Lotto reach NT$1.6 billion per round this year, if the grand prize accumulates to NT$1 billion," Shang said.

The rules of the Super Lotto are similar to Powerball lottery in the US, which has two segments. The jackpot is won by matching all six numbers in the first part and the other number in the second part.

About 70 percent of Taiwanese have bought a lottery ticket, senior vice president Phyllis Hung (洪秋萍) said yesterday.

Taiwan Lottery is a subsidiary of Chinatrust Financial Holding Co (中信金控).
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