Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Record Lotteries Sales

The New Zealand Lotteries Commission expects record sales of over $640 million for the current financial year ending on 30 June, and is predicting a rise to $645 million for next year.

In its Statement of Intent, released today, the Commission said at least $135 million would be paid to the New Zealand Lottery Grants Board in the current financial year, as budgeted, and also in the following year.

The results were attributable to the success of a new Saturday advertising strategy for Lotto, the continued success of TeleBingo, a turnaround in Instant Kiwi sales, and also success in containing costs. A one-off reduced charge for GST had been a contributing factor too.

Expenditure for the current year will be slightly below the budget of $43.3 million.

The Commission noted in its report that the upgrade of its gaming system, including hardware, software and communications technology, had been completed successfully and that the new system was faster and more reliable.

By the end of June, the Commission expected to have conducted integrated tests of all its systems and be fully Year 2000 compliant, although it acknowledged that dependence on other organisations meant "no-one has complete control of their destiny in achieving Year 2000 compliance". Accordingly, the Commission had paid attention to contingency planning as a major part of its Y2K programme.

Plans for the coming year included completing the trial of self- service Lotto terminals in supermarket checkout aisles. However, the project would go ahead only if the trial met with customer approval and also satisfied the Commission's return on investment criteria.



© Scoop Media

Business Headlines | Sci-Tech Headlines


Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>