In June 2008, CVC Funds, in partnership with Multi-Purpose Holdings Berhad, completed the buy-out of Magnum Corporation, the largest four digit lottery operator in Malaysia.

The lottery market in Malaysia is essentially a three-way oligopoly with Magnum being the first company to be granted a lottery license by the government in 1969 to promote, operate and manage four digit (‘4D’) numbers forecast betting. The betting involves a customer placing a bet on one of 10,000 potential outcomes and winning if the chosen number is picked in Magnum’s proprietary draw.

Having established the strongest nationwide brand name, the company is headquartered in Kuala Lumpur and today operates 483 outlets throughout Malaysia, conducting three normal draws per week. Magnum’s core customers are young and middle-aged Chinese and Malaysian citizens.

This transaction was an opportunity to buy a highly defensive business with a history of stable financial performance and cash generation. The company has been in operation since 1969 and has consistently grown its top line, with the exception of the period following the Asian Financial Crisis when it recorded small declines in revenues.

Drawing on CVC’s deep knowledge of the gaming industry, Magnum successfully launched its first new jackpot product in 40 years – thereby strengthening its leading position in the Malaysian lottery market.

Lawrence Lim, CEO

Date of investment

June 2008


Asia III


Lottery operator




US$929.8 million

Number of employees



Lawrence Lim

Company website