Turkey's Demirören takes over Azerbaijan's state lottery company

Turkey’s Demirören Group has taken over Azerbaijan’s state-owned lottery company Azarloterey, Sözcü newspaper reported on Saturday.

An agreement was signed Saturday between Demirören Şans Oyunları Yatırımları AŞ and the Azeri lottery company in Baku, the newspaper said.

The agreement follows a decree signed by Azeri President Ilham Aliyev last month, which said his country was seeking to draw investment and new technology to develop its gaming industry through a public-private partnership.

Turkey is increasing investment in Azerbaijan following its conflict with Armenia over the disputed region of Nagorno-Karabakh.

Azerbaijan, with extensive support from Turkey, took over several territories formerly under Armenian control, including the second largest settlement of Shusha, before a ceasefire was put in place in November.

Last month,Turkish construction firm Kolin İnşaat took on a project to build a highway in Nagorno-Karabakh.