Perlis may follow Kedah in reversing lottery ban, says PublicInvest
KUALA LUMPUR: Perlis may eventually resume lottery licence renewals following the favourable court outcome in neighbouring Kedah, Public Investment Bank Bhd (PublicInvest) said.
PublicInvest stated that Perlis could resume its lottery licence renewals following a positive court outcome in neighbouring Kedah. The firm noted that Sports Toto Bhd's operations in Perlis are currently closed, but the Federal Court's rejection of Kedah's bid to reinstate a lottery ban could have wider implications. PublicInvest believes the state government may reverse its decision to freeze licence renewals due to Kedah's ruling.
Meanwhile, RHB Research is optimistic about Sports Toto resuming operations in Kedah, estimating a potential three percent boost to the group's lottery business, which could help offset the segment's structural challenges. However, analysts caution that the outlook for Sports Toto's core lottery business remains uncertain due to strong competition from illegal operators.
Both research firms highlight that despite the possible reopening of Perlis and Kedah, these two markets represent less than four percent of Sports Toto's Malaysian gaming operations.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
