The Canadian Commercial Corporation (CCC), an arm of the Government of Canada will transfer the management of Loto Nicaragua to the Canadian Bank Note Company (CBN), a private enterprise.
History
In 2010, the CCC signed a contract with the Nicaraguan Lottery to introduce an electronic computer terminal style of lottery throughout Nicaragua. The contract was for a fifteen (15) year term, with a 7 year extension.
On Tuesday 17th of August, 2010, the National Assembly of Nicaragua decreed that the contract was being terminated in an amicable way as the CCC had fulfilled the agreement to a point where a private company could take over “to allow greater efficiency and expansion”. That company being the Canadian Bank Note Company (CBN).
Therefore, the Canadian state owned CCC has been released from its previous contractual obligations as of the time when the decree is published in La Gaceta (the official publication of the Government of Nicaragua).
Canada and the Canadian Commercial Corporation – CCC
The CCC connects foreign governments with Canadian exporters by way of secure international contracts that in effect are with the Government of Canada.
There is usually a sub-contract with a Canadian exporter and as the parent contract is fulfilled, the CCC takes on the role of overseer in relation to performance and financial administration.
The Nicaragua lottery deal was a government-to-government contract which outlined the support that Canada was to give to the electronic national lottery in Nicaragua through the Canada Commercial Company (CCC).
Canadian Bank Note Company – CBN
The CBN is a business that makes bank notes for the Bank of Canada as well as providing products and services to over 80 different countries around the world. As well as bank notes, it makes other products that require a high level of security and anti-counterfeit measures, such as; identification cards, passports, postage, share certificates, and visas. In addition, it supplies equipment such as card and passport readers, lottery terminals and is involved in secure document design.
Loto Nicaragua
According to the Loto Nicaragua web site, Soluciones Seguras SA is the subsidiary of the Canadian Bank Note Company in Nicaragua that will operate on behalf of the National Lottery.
Loto Nicaragua operates much like a typical Canadian electronic lottery (e.g. Lotto Max, Lotto 6/49, and the Daily Grand) in that tickets are produced by a computer terminal at more than 800 agents throughout Nicaragua, such as at; grocery stores, pharmacies and convenience stores etc.
