Vietlott records revenue of $70 million
Vietlott records revenue of $70 million
Viet Nam Lottery Company (Vietlott) announced it earned total revenues of VND1.6 trillion (US$70.5 million) in 2016, the record revenue in its five years of operation.
The company said it paid the local budget some VND334 billion, plus the income tax of eight Jackpot winners amounting to VND56.7 billion.
The company turned the tables following the launch of its new lottery game, Mega 6/45, in July. Previously, the company recorded a loss of VND4 billion in the first six months of last year.
Experts forecast that with the current growth trajectory, Vietlott would be among the top 10 lottery issuers of the country this year, possibly even threatening leading Lottery Company of HCM City, whose revenue is VND6 trillion annually.
Buyers of Vietlott also soared since a lucky person won the Mega 6/45 Jackpot of VND92 billion in late July.
Following that win, lottery ticket sales revenue of Vietlott increased by nearly 70 per cent compared with the previous week. In particular, revenues in Binh Duong and HCM City grew sharply by 170 per cent and 230 per cent, respectively.
The total prize money for winners was estimated at more than VND820 billion up till December 31, of which the budget for the game Mega 6/45 was more than VND765 billion.
Newly-launched lottery game called Max 4D, which was introduced in mid-November, paid out VND55 billion for a total of 98,177 prizes.
Vietlott has implemented businesses in 12 provinces and cities with more than 2,000 selling points.
