As expected, the turnover of Lottotech has decreased compared to last year’s following the new regulations implemented by the government.
For the first three months of the year, the turnover at Rs 528 million, and profits of Lottotech have been on a decline. The former has decreased by 36.8 %; the turnover was at Rs 722 million at the end of the first trimester last year while the profits came from Rs 38.6 million to Rs 17.6 million.
According to the management of the company, the selling of the Loto has been much less this year; the jackpot had reached Rs 355 million last year, compared with Rs 222 million this year.
Also, it is to be noted that more than Rs 120 million have been invested in the Consolidated Fund of the government. Back in 2014 though, Rs 164 million were injected in the fund.
The ban on scratch cards as announced has indeed impacted considerably on the firm. Furthermore, the Gambling Regulatory Authority (GRA) did not approve of all the new games, and this negatively affected profit-making for the first trimester.
The downward trend might intensify further. The government has confirmed its intention of banning completely the games of Quick Win and the advertising.