Sales up but profit down for Lotteries Commission

A lift in sales did not translate into a profit hike for the Lotteries Commission, which today reported a net profit of $130.4 million, down slightly on the $133.5 million reported the previous year.

From this profit the commission paid $123.4 million to the Lottery Grants Board, up from $118.5 million the year earlier. The net profit after the distribution to the Grants Board was $7 million -- less than half the $15 million reported the previous year.

The net profit was achieved on sales of $630.4 million, up slightly on the $628.8 million reported the previous year.

Lotto made up the bulk of sales, at $501.9 million, down from $512.5 million; followed by Instant Kiwi tickets at $105.3 million, up from $94.2 million; and Keno, $23.2 million down from $22.1 million.

During the year the commission introduced the Winning Wheel to the Lotto draw, where punters get an extra shot at winning via a serial number on their ticket.

During the year, 34 Lotto gamblers became millionaires, and nine became multi-millionaires. A total of $342.1 million in prizes was paid out.

The largest prize of the year was a $12 million Lotto Powerball prize won by a Hawkes Bay family in June, the second largest prize ever paid in New Zealand on a single lottery ticket.

Over 130 new retail Lotto outlets were opened, bringing the country's total to 756 outlets.

- NZPA