Lotteries grants to skyrocket

A couple of huge jackpot runs helped NZ Lotteries make a record profit in the past financial year, with $189 million earmarked for the NZ Lottery Grants Board.

NZ Lotteries chief executive Todd McLeay said the payment to the board was the highest ever - $32.4m more than the previous financial year.

"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 was an unusual event which was unlikely to be repeated in the next decade, Mr McLeay said.

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

Sales for the 2008/2009 financial year were $907.7 million - 16.7 per cent more than last year.

The $189.3 million net profit was 24.1 per cent above budget and 20.7 per cent ahead of 2007/2008.

Mr McLeay said when the two big jackpot runs were taken out of the equation, the week to week sales from NZ Lotteries still held up well in the current financial climate.

Over 4000 various groups are recipients of lottery grant funding each year.

- NZPA