Tuesday, December 7, 2010

NFOs revise prize structure

Extracted from the Edge Daily:

Berjaya Sports Toto Bhd, Berjaya Assets Bhd’s subsidiary Natural Avenue Sdn Bhd and Multi-Purpose Holdings Bhd’s  (MPHB) subsidiary Magnum Corporation Sdn Bhd have received the Ministry of Finance’s (MoF) approval to reduce the prizes.

They said the prizes for their games would be reduced from RM200 per RM1 bet to RM180 per RM1 bet. The revised prize structure, which would take effect from Dec 15, would have a positive impact on their earnings, they said.

The Edge FinancialDaily reports on Wednesday the revised prize structure of two number forecast operators (NFOs), Magnum Corp and BToto, could see little positive impact on their earnings as savings go towards compensating for the increase in betting duty and potentially lower sales.

Also from Star Biz:

Multi-Purpose Holdings Bhd and Berjaya Sports Toto Bhd said their respective units, Magnum and Sports Toto Malaysia Sdn Bhd, received approval from the Finance Ministry on Dec 3 to revise the special prizes for their 4 Digit Big Game from RM200 per RM1 bet to RM180 per RM1 bet.
In separate filings with Bursa Malaysia, both companies said the special prizes for the 4 Digit Big permutation would be revised proportionately.
The revised prize structure would have a positive impact on the earnings of Magnum and Berjaya Sports Toto for their respective fiscal years.
Berjaya Assets Bhd said in a Bursa Malaysia filing that its subsidiary,Natural Avenue Sdn Bhd, the sole and exclusive agent appointed by Sarawak Turf and Equestrian Club to operate the numbers forecast lotteries, had received the Finance Ministry's approval to revise the starter prizes for its 1+3 Digit Big Game from RM200 per RM1 bet to RM180 per RM1 bet.
Notable absentees from the list of NFO operators that obtained approval for prize reduction are Pan Malaysian Pools Sdn Bhd, Lotteries Corporation (88) Sdn Bhd and Sandakan Turf Club.