As a result of its strong 2022 performance, the OTPP fund was \u201cfully funded\u201d as of Jan. 1, 2023. In addition, it held a preliminary funding surplus of CAD17.5 million (US$12.79 million).<\/strong><\/p>\nThat facilitated the purchase of Sweetwater Royalties, a base metals and industrial minerals royalty company. For a 25% stake in the company, it paid CAD221.6 million (US$162.01 million) in cash.<\/p>\n
Earlier this year, the organization said it would stop direct investments in China due to the ongoing political climate. However, it kept listed securities on the plate.<\/p>\n
Irish Lottery Under Pressure<\/h2>\n The Irish Times<\/em> cited analysts who indicated that the organization was the odds-on favorite to continue in Ireland, despite losing the UK\u2019s National Lottery.<\/p>\nIreland\u2019s National Lottery has dealt with negative press over the past year, though there\u2019s no indication that this was the impetus for the PLI sale.<\/strong><\/p>\nLast December, an audit by Ireland\u2019s Comptroller and Auditor General raised questions about how unclaimed lottery winnings were being used. At the time, there were around \u20ac124 million (US$131.71 million) in unclaimed prizes that should have been used for community projects, according to the lottery charter.<\/p>\n
The audit, however, found that some of the money was used for marketing and business expenses. That led to a call from legislators to increase oversight of the National Lottery operations, and reforms are still in the works.<\/p>\n","protected":false},"excerpt":{"rendered":"
When the UK prepared to issue a new concession to run the National Lottery, many people were confident that the incumbent, the Camelot Group, would continue. The surprise move to give the operations to Allwyn caught Camelot\u2019s owner, the Ontario Teachers\u2019 Pension Plan (OTPP), unprepared. It then sold Camelot\u2019s assets to Allwyn and now plans […]<\/p>\n","protected":false},"author":64,"featured_media":265295,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33810,13699],"tags":[81919,81952,13701],"acf":[],"yoast_head":"\n
Irish Lottery for Sale in Surprise Move by Current Operator - Casino.org<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n