Bulgarian State Lottery Registers Growth of Profit

The Bulgarian State Lottery registered a bigger profit for 2010 thanks to the two jackpots this year. Photo by BGNES

The Bulgarian State Lottery has registered a BGN 24 M growth of revenues for 2010, making the total profit for 2010 BGN 124,8 M so far, Bulgaria's PM Boyko Borisov informed.

In the past years, the Bulgarian State Lottery was making more than BGN 100 M in profit.

"The growth was due mostly to the two big jackpots of BGN 6,5 M in June and BGN 4,8 M in September, as well as to the optimization of the lottery stations in the country. We closed the unprofitable ones and we moved them to other places," said Ivo Tonev, Chair of the Managing Board of the Bulgarian State Lottery.

The jackpot of BGN 6,5 M was not requested by the winner and the sum was divided among the State Lottery and the Bulgarian Sports Ministry.

The good revenues from lottery gave BGN 25 M to the Sports Ministry, which is BGN 10 M more than last year.

The State Lottery is planning to slightly increase the price of the lottery ticket by BGN 0,10, making it a total of BGN 0,70.

The change, triggered by the increase of the tax on hazard from 12% to 15%, aims at increasing the revenues and the amount of the jackpot.

The State Lottery is also planning to install a new software, which would allow online betting. The investment would cost about BGN 15 M, but this is the only way which will enable people to submit their tickets right before the drawing.

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