Net Profits of Lottotech Spiral Down

The net profits of Lottotech Ltd have dropped by 90 % for a period of nine months ending on September 30 – from Rs 134.5 million last year to Rs 13.4 million this year.

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The new financial assessment has left the shareholders dumbfounded.

The measures imposed by the Minister of Finance last March seem to have impacted on the firm, as pointed out by the management of Lottotech, reported by l’Express.mu. The government had prescribed that advertising for gambling and scratch cards would be banned; in the absence of scratch cards, the company had already lost around Rs 27 million.

On the other hand, some say that such a catastrophic assessment might help Lottotech to obtain compensation from the Gambling Regulatory Authority.

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