The Onkar S Kanwar-promoted Apollo group today announced its foray into the online lottery business with an investment of Rs 250 crore.
Apollo International, the closely-held operating company for the lottery business, is expected to generate a turnover of Rs 2,500 crore from the new business. Margins, however, will not be higher than 3-4 per cent, company executives said.
The business will be launched under the brand Lottus. The company will initially operate the Arunachal Pradesh State government lottery, for which it has committed a payment of Rs 20 crore to the state.
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