Julio Rivera
Schenectady, NY (USA)
Role(s):
Founder/Owner/Principal
ECCO GROUP SA
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Startup
Location:
Schenectady
Industry:
Other
Year Founded:
2009
Number Employees:
1-10 people
Business Stage:
Growth (not profitable)
Entity Type:
"C" Corporation
Description:
BOL-LO Groupe SA – Business Synopsis
Bol-lo Groupe SA a Haitian company comprised of a group of Canadian businessmen is owned and operated by Bol-lo Group LTD Canada. Bol-lo Groupe SA has obtained a long term Lottery license in Haiti that authorizes the printing, distribution and marketing of lottery tickets and the operation of casinos. The growth and success of this lottery company will be a huge benefit to the people of Haiti not only in the way of job creation but also by investing a predetermined percentage of sales throughout the Republic of Haiti for charitable causes.
The Corporation has named the Lottery ‘Bol-lo’ to associate to what the Haitian lottery is commonly known as ‘borlette’. The ‘Bol-lo’ name will provide an immediate recognition as to what the lottery is and will also provide a strong marketing edge. The first launch of lottery tickets will include ‘Scratch and Win’ lottery tickets to be distributed through authorized Dealers of Bol-lo Groupe Sa. BOL-LO Groupe SA has determined that the process by which the tickets are marketed must assure ordinary purchasers that the prizes are secure, the draws are fair and that it is not possible to interfere with the process. Packages of tickets (printed on security paper) will be allotted to authorized distributors who will sell to the public via their network of authorized Bol-lo Dealers.
The Haitian public will be assured of the propriety of the process as Bol-lo Group LTD Canada will secure the funds for prize payouts with the monies held in trust in one of the major banks in Haiti.
The Marketing Process
1. The BOL-LO Groupe SA will uphold a reputable and corporate image and will operate pursuant to a proper and valid lottery license granted by Haitian authorities.
2. BOL-LO Groupe SA will create many jobs for the Haitian people to help with the operations of the company. (i.e. call center support, administrative staff, sales, management positions, etc.)
3. Tickets will be preprinted on security paper, with a control number that cross references to the ticket number and reconciles the control barcodes on each ticket. Rules of each draw will be clearly printed on the tickets.
4. Prize monies will be held by Unibank so there is never any risk to prize payout redemptions. The initial deposit of $50,000 USD will be deposited in Haiti by BOL-LO Group Ltd (Canadian Company), with an additional $200,000 held in trust by BOL-LO Group Ltd .
5. Bundles of tickets will be sold to the Wholesalers, at a discounted rate who in turn will sell packages of tickets to their identifiable and pre-authorized dealers that have been registered with BOL-LO Groupe SA.
6. Tickets will be ‘Scratch and Win’ meaning areas on the ticket have to be scratched off to reveal whether the ticket is a winner. Prize winning tickets cannot be predetermined with Scratch and Win. These concepts mirror the scratch and win lotteries in Canada. Every ticket number will have a corresponding control number, which is used to verify the tickets' authenticity. This control number feature uses a special algorithm that changes with every draw.
7. The first three draws will be limited to 1,000,000 tickets only. This allows the BOL-LO GROUPE SA to insure that its marketing and distribution systems work.
8. Cash prizes of various levels will be up to 1,000,000 HTG. Payouts of over 40,000 HTG will be made by directly by BOL-LO Groupe SA who may choose to publish winners as part of their continuing marketing strategy.
9. Payouts under $40,000 HTG will be made by the Wholesalers or by the Authorized Dealers with claims being made back to BOL-LO Groupe SA for reimbursement.
10. Tickets will be distributed every couple months based on demand.
11. The charitable intent is to directly fund social development and infrastructure projects in Haiti (10% initially while the lottery is becoming established). This will be done directly by the BOL-LO Groupe SA, which means that the BOL-LO Groupe SA will for example purchase a new roof for a school, but will not hand cash over directly to the school's administration. This system is designed to insure that funds are used as required for the maximum benefit of the Haitian public. This procedure also reduces or eliminates the potential for theft or misappropriation.
12. The BOL-LO Groupe SA will use proceeds from every draw to fund prizes for the next draw (backed by the Canadian investors’ initial and continued financial support) as well as to provide funding for the expenses of printing security paper tickets, the cost of the draws, the cost of the broadcasts, license fees, day to day overhead and minimal salaries for management.