Boledo Contracts Signed at Close Event in Belmopan

The Belize Government Lotteries Limited (BGLL) signed contracts with the newly selected sales distributors of Boledo on Tuesday. The signing took place during a closed event at the George Price Center for Peace and Development in Belmopan, where agreements were formalized with Nando’s Wholesale Limited and MGM Entertainment Limited. According to a statement, the new arrangement grants sales distributors the right to purchase government lottery credit from BGLL, which they will then distribute to sub-agents within specified zones. Sales distributors are tasked with recruiting and establishing relationships with these sub-agents, who will act as resellers of the lottery. It says that under this revised system, BGLL will compensate sales distributors with a commission based on the total wager, and in turn, distributors will be responsible for disbursing commissions to sub-agents. Today, Prime Minister John Briceño shared more details of the agreement.

Prime Minister John Briceño

Prime Minister John Briceño

“I think the release has been made. Today I spoke with, today the actual names of the people behind the company is going to be released. There’s nothing to hide. There was next to no information when Boledo because earlier the company was reporting high payout, so they have low income profits. When they realized that the government was, could probably, take over, then all of a sudden the payout got small and the profits got large. And so, there’s nothing on where we could really make a basis as to what the percentage is supposed to be between us and the sellers. Again, I repeat, we’re following the  same system that the telecoms have used successfully. As oppose to the government hiring one thousand sellers, what we are doing is we are working with master agents. And all these master agents, initially we wanted to get twenty percent, but the numbers did not work, and finally, everything has been vetted by the contractor general, I think they ended up with a five percent margins for themselves, and then the government then will be paying out the payments and everything. And if I remember right, they are also required to, just like with the telecoms, they have to pay in advance to be able to sell the numbers which is being done electronically. So what we’re trying to do, we’re trying to make the best deal possible for the Belizean people.”