SJM Holdings, eGame Solutions Holdings form lottery joint venture

    SJM Holdings and eGame Solutions have formed a joint venture to provide a national lottery in five different countries. SJM unit EML will own 75 percent of the venture and will invest $20 million in loans and equity for the first two projects. It has committed to invest a further $30 million in three others, depending on the performance of the initial companies. The companies didn’t say which countries they are targeting, though said the project is contingent on receiving licenses to operate.