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Fubon Financial to triple lottery sales within year

Fubon Financial Holding Co (富邦金控) chairman Martin Tsai (蔡明忠) said on Saturday he would triple sales of its sports lottery, launched on May 2, to NT$30 billion (US$990.62 million) within a year.

“We will work on an online platform that allows buyers to place bets 24 hours a day,” Tsai told reporters at the company’s tree-growing benefit in Hsitou, Nantou County, on Saturday.

Tsai said that through the online platform, lottery buyers would be able to place bets using their mobile phones and cable TV.

Before the platform is set up and approved by regulators, the company will reinforce its outlet shops to boost sales, which are expected to hit NT$10 billion after the launch next month.

The company’s former G-tech equipment, which it previously used when it operated the nation’s charity lottery sales, will be reused at its outlet shops for the sports lottery next month, he said.

Tsai criticized the government’s decision last year to transfer the charity lottery’s right to Chinatrust Commercial Bank (中信銀) until 2013 in return for a higher NT$2 billion in annual fees to government coffers.

Despite the higher annual fees, the government will not benefit because sales under Chinatrust underperformed Taipei Fubon Bank’s (台北富邦銀) by more than 20 percent and only reached NT$60 billion annually, he said.

Local media reported that Fubon could be interested in winning back the charity lottery’s exclusive operating right in six years.
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