The tender for the privatisation of WestSpiel launched and the Potential bidders have to present their proposal before 1 February.
The Ministry of Interior of North Rhine-Westphalia state has launched its long-anticipated privatisation tender for its land-based gaming monopoly, Westdeutsche Spielbanken (WestSpiel).
WestSpiel is the leading casino operator in the state, with six venues, over 1,000 employees and one million visitors a year according to the firm’s website.
For the tender, the Ministry enlisted the assistant of the German professional services firm Warth & Klein Grant Thornton AG.
The privatisation process will be done through selling shares held by the state-owned NRW.Bank.
It will grant the buyer a 15-year monopoly on land-based gaming in the state and give it the opportunity to apply for an online casino concession as of July 2021.
The process was approved by the state parliament of North Rhine-Westphalian last June.
Potential buyers must show competence and permission to operate gambling activity, including evidence of compliance procedures regarding customers.
They will also have to exhibit capital of at least €20m and be capable of paying a security deposit if their bid is accepted.
The Ministry and the consultancy are expecting to agree on a list of at least three potential bidders for the tender, who will then enter into a final offer and negotiation stage.
Criteria to select the three bidders will be the number of casinos operated within the last 36 months and their average number of employees, average turnover from gambling as well as other sources.
Interested bidders must present their proposals before 1 February 2021 and only three will move on to the final offer and negotiation stage.
About WestSpiel you can read also HERE.