Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 


Big Improvement in NZLC's Results for 2003/2004


Gambling Statistics Highlight Big Improvement in NZLC's Results for 2003/2004

New Zealand gambling statistics for the 2003/2004 year, released today, highlight the big improvement in New Zealand Lotteries Commission's (NZLC) performance over the past 12 months, Chief Executive Trevor Hall said today.

"Over the past year the organisation had achieved a significant turnaround in its performance," he said.

"The increase returns spending on lottery products to levels reached between 1996 and 1999 and reverses a four-year downward trend.

"An extremely strong first six months, driven by several Powerball jackpots, and a solid performance in the third and fourth quarters, meant NZLC had sales and profit results well above those of the previous financial year, although the number of very large Powerball jackpots was statistically abnormal and cannot be expected to occur every year.

"Sales for the year were 16.4% above the last financial year at $628.8 million.* Strong sales coupled with low operating expenses resulted in NZLC making a profit of $133.45 million, 24% ahead of last year.

"Achieving a strong financial result allowed NZLC to give more money back to New Zealand communities," said Mr Hall.

"We were delighted to transfer $118.45 million to the Lottery Grants Board to fund arts, sporting and community projects throughout New Zealand, $10.65 million more than in the previous year," he said.

NZLC's increase over the past 12 months was significant, but it still only accounts for 14% of overall spending/losses in the gaming sector compared with gaming machines in pubs and clubs which account for 51%, casinos at 24%, and racing and betting at 11%.

"The Gambling Act 2003 states that the functions of the Lotteries Commission are to maximise profits, subject to ensuring that the risks of problem gambling and underage gambling are minimised."

Mr Hall says NZLC's products are not a significant contributor to problem gambling.

"In essence, our games involve a small amount of money being outlaid by a large number of people in return for a chance of winning very big sums of money or other prizes.

"The minor impact our games have in this area is reflected in problem gambling figures for the 2003 year (the latest available statistics). At most 0.55%, or 23, of the 4,182 gamblers who received initial counselling cited NZLC products as their primary mode of gambling," he said.

* (The $282m figure used by DIA equals all NZLC sales, including gst, less prize payments).

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Wellington: Predator Free Capital Plan

Wellington City Council (WCC), the Greater Wellington Regional Council (GWRC) and NEXT Foundation, today announced a joint collaboration to make Wellington the first Predator Free capital city in the world. More>>

ALSO:

Gordon Campbell: On Judith Collins’ Efforts At Self Correction

Thousands of prisoners currently in prison may be entitled to an earlier release than expected – and compensation – because Corrections has incorrectly calculated their term of imprisonment. Unless of course, the government buries its mistakes by changing the law and retro-actively getting itself off the hook… More>>

ALSO:

More Justice & Corrections

Sector Opposes Bill: Local Government Bill Timeframe Extended

The Minister of Local Government Peseta Sam Lotu-Iiga has asked the Select Committee to extend the report back date for the Local Government Act 2002 Amendment Bill (No 2). More>>

ALSO:

Breed Laws Don’t Work: Vets On New National Dog Control Plan

It is pleasing therefore to see Louise Upston Associate Minister for Local Government calling for a comprehensive solution... However, relying on breed specific laws to manage dog aggression will not work. More>>

ALSO:

Not Waiting On Select Committee: Green Party Releases Medically-Assisted Dying Policy

“Adults with a terminal illness should have the right to choose a medically assisted death,” Green Party health spokesperson Kevin Hague said. “The Green Party does not support extending assisted dying to people who aren't terminally ill because we can’t be confident that this won't further marginalise the lives of people with disabilities." More>>

ALSO:

General Election Review: Changes To Electoral Act Introduced

More effective systems in polling places and earlier counting of advanced votes are on their way through proposed changes to our electoral laws, Justice Minister Amy Adams says. More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news