STV Group PLC NEW CHARITABLE LOTTERY FOR SCOTLAND TO LAUNCH (3425M)
12 October 2016 - 7:30PM
UK Regulatory
TIDMSTVG
RNS Number : 3425M
STV Group PLC
12 October 2016
NEW CHARITABLE LOTTERY FOR SCOTLAND TO LAUNCH
A brand new charitable lottery, The Scottish Children's Lottery,
will launch on Monday, 17 October to raise money for children in
Scotland.
The Scottish Children's Lottery has been awarded licences by the
UK Gambling Commission. Through a weekly online lottery, proceeds
will be invested in a wide range of local projects aimed at
supporting children in Scotland.
The Scottish Children's Lottery will be run by a board of
trustees, chaired by Hugh Hall, and will engage the services of an
External Lottery Management (ELM) team. STV ELM plc will deliver
the lottery product to consumers.
The establishment of the Scottish Children's Lottery has been
supported by STV with a GBP4 million investment funding set-up
costs and initial working capital. These costs are expected to be
repaid over the next four years.
The Scottish Children's Lottery will operate independently of
STV in accordance with the requirements of the licences from the UK
Gambling Commission.
Thirty percent of proceeds from the Scottish Children's Lottery
will support children and young people in Scotland. The main goal
of the lottery is aligned with the STV Children's Appeal and the
Scottish Children's Lottery will draw on the past experience and
track record of the STV Children's Appeal.
The first draw of the lottery will take place on Monday, 31
October 2016.
Ends
For further information, please contact the STV press
office:-
Eleanor Marshall
0141 300 3670 / eleanor.marshall@stv.tv
This information is provided by RNS
The company news service from the London Stock Exchange
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October 12, 2016 04:30 ET (08:30 GMT)