Liechtenstein lottery operator goes under
According to the local papers ILLF.COM – operator of pluslotto.com and lotto.li has filed for bankruptcy. For many years lottoluck.com was an ILLF brand until it separated and was reborn as an information portal.
ILLF was a pioneer in the online gaming space, starting in 1995 with an online lottery well before anyone else in the gaming space was contemplating online. While it was successful in the earlier years, with the advent of casinos and sportsbooks online things became tougher for the charity lottery operator.
ILLF was the first legitimate operation to take a bet online (in the form of a lottey ticket). It started with a 6/40 lottery insured for CHF (swiss franc) 800K, later updating the model to go multi currency with pound, euro and swiss franc and increasing the jackpot to £20M. It also pioneered many interactive games including scratchcards, a 60 second game (Pickit) and different lottery formats. In 2000 it ran the Millions 2000 millenium lottery – at the time slated to be the largest in the world.
In 1999 Earthport PLC was founded by the ILLF founders using some of the transaction technology. This .com darling peaked at £1Bn in market cap in the heady .com boom years before coming back down to the current c£30M level. Earthport is traded today on the London Stock Exchange AIM market.
ILLF was a charitable foundation, contributing many millions to charities including the International Federation of Red Cross and Red Crescent Societies (IFRC), Worldwide Fund for Nature (WWF), CARE International and Human Rights Watch. In addition it supported many local clubs and charities in Liechtenstein.