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Serbian consortium to develop Kyrgyzstan State Lottery

Serbian consortium to develop Kyrgyzstan State Lottery

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The bidding process for the development and launch of State lottery activities in Kyrgyzstan has been won by a consortium of Serbian companies, Elbet d.o.o and Axel Capital.

The Kyrgyzstan State Lottery Company announced a competition process to select a private partner back in October and in November, an appointed tender commission shortlisted those firms that had met all the qualification requirements. Commenting on the results of the contest, the tender commission issued the following statement: “The tender commission has only determined the winner, now the State Lottery Company has to conclude an agreement with the consortium within the established time frame. Only after that, the consortium of companies will be registered in Kyrgyzstan.”

Founded in Serbia in 2002, Elbet d.o.o is a technology company specialising in the development of software solutions for the gaming industry. The company works with over 80 worldwide operators, including four state lotteries. Its virtual content portfolio includes number games, virtual sports and virtual casino games.

Also formed in 2002, by Anna Nikolayevsky, Axel Capital Management is an equity hedge fund manager, investing in a range of industries on a global basis. Ms Nikolayevsky is a former Analyst at Zweig-DiMenna Associates and Goldman Sachs Asset Management.