Another Record Year For NZ Lotteries

Nz-Lotteries-Commission - Another Record Year For Lotteries

The New Zealand Lotteries Commission expects to have some good news for sport at all levels, the arts, and community groups throughout New Zealand in a couple of weeks, when it releases its annual report to Parliament.

The Commission says its annual accounts are looking like a record year for sales, net profit, and for payments to the New Zealand Lottery Grants Board, which channels the profits from Lotto to the community.

Sales will be over the budgeted $640 million, and the final amount for the Lottery Grants Board will be "very handily" more than the budgeted $135 million for the year, according to Commission chief executive David Bale.

"In percentage terms there hasn't been any significant movement in sales because this has been another tough year for all involved in retailing," Mr Bale said.

"However we are well aware of the high demand for lottery grants funding, especially as the country prepares for the millennium and the Sydney 2000 Olympics.

"Therefore the Commission is particularly pleased to have once again upped the amount available for the Lottery Grants Board. This is the sixth year in a row for growth in revenue and profit".

The Lotteries Commission currently raises over $2.6 million a week for the Lottery Grants Board, totalling $1.34 billion since Lotto's first draw 12 years ago on 1 August 1987.

In addition to the community funding, the Commission has paid over $670 million in tax.

However it is the weekly entertainment provided by Lotto and the Commission's other games, together with the dream of winning, that has brought the money in.

Dreams have come true for many. Over $3.6 billion has been paid in prizes over the last 12 years.

On average, three or four people share Lotto's top prize every week, bringing the total number of big winners to 2,395. Between them, they have shared just over $1 billion.

Lotto has created 143 overnight millionaires, and Lotto Strike has catapulted another 7 people into the rich list.

ENDS....

© Scoop Media