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Record $138 Million For Lottery Grants

The New Zealand Lotteries Commission made a record $138 million for the New Zealand Lottery Grants Board in the year ended 30 June 1999, according to the Commission's annual report which was tabled in Parliament today.

This marked the sixth successive year the Commission had delivered an increase in funding available for community grants. The Commission's total sales were $643.7 million, compared to $638.7 million in 1998. Prizes were $356.3 million, compared to $350.7 million.

Total Lotto sales were $470.9 million, which was down on 1998's $473.2 million result. Lotto itself achieved a $2.2 million increase on the previous year, but Lotto Strike sales did not achieve budget for 1999.

Instant Kiwi sales of $108 million were almost $6 million ahead of the previous year. TeleBingo sales were $42.1 million, compared to $39.8 million. Daily Keno sales were $22.7 million, compared to $23.6 million.

The Commission's net surplus was $137.9 million, up $1 million on the 1998 result. Tax paid was $64.4 million, and retailer commission was $45 million. Operating expenses were $43.3 million, nearly $1 million less than last year.

In the last 12 years the Commission's total sales have been $6.5 billion and prizes $3.6 billion. Profit before tax has totalled $2.1 billion. The net profit after tax of $1.3 billion has been transferred to the New Zealand Lottery Grants Board for allocation to charitable and community causes.

The Commission reported that its computer systems were Year 2000 compliant by 30 June 1999. It had conducted an integrated test of its entire computer system (both gaming and management information systems) in June.

While noting that it was still operationally reliant to a degree on other businesses, institutions, and outside events, the annual report said that, on 1 January 2000, the Commission would be selling tickets, paying out prizes to winners, and carrying on business as usual.

ENDS...

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