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Record Allocation To Lottery Grants Board Of $189 Million

Contributor:
Fuseworks Media
Fuseworks Media

NZ Lotteries today announced its largest-ever transfer of $189.3 million to the NZ Lottery Grants Board, $32.4 million more than last year, said NZ Lotteries' Chief Executive, Todd McLeay and Chair, Judy Kirk.

This result is due to a very exceptional year for NZ Lotteries, with sales and net profit results reaching new record highs in 2008/09. This was driven largely by two phenomenal jackpot runs for Lotto Powerball and Big Wednesday which culminated in 'must be won' draws.

Having two such draws in one financial year is a very unusual event, which is unlikely to be repeated in the next decade.

"It is not surprising that these jackpot runs therefore captured the imagination of a nation and lead to huge queues in many Lotto shops," said Todd McLeay.

Sales for 2008/2009 were $907.7 million, 16.7% more than last year. Net profit was $189.3 million, $36.8 million, or 24.1%, above budget and $32.4 million, or 20.7%, ahead of 2007/2008.

Taking out the effect of the two jackpot runs, NZ Lotteries' week to week sales are still holding up well in the current climate, with New Zealanders still choosing to play lottery games.

NZ Lotteries' profits are transferred to the NZ Lottery Grants Board, to be distributed to good community causes.

"NZ Lotteries is delighted that the funding provided by this transfer will therefore directly benefit community, arts, sports, heritage and cultural groups throughout New Zealand. More than 4,000 groups receive lottery grant funding each year.

"Our community contribution is only made possible by our customers. In the past year, more than two thirds of New Zealanders have bought a lottery ticket. Therefore, we would like to thank all those New Zealanders who have contributed to NZ Lotteries' record-making year, as thousands of community groups throughout the country will now be able to benefit from lottery grants," Todd McLeay and Judy Kirk said.

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