Ratnapura resident wins over Rs. 145 m in lottery jackpot
With daily sales of around 2.5 million tickets, rising revenue and a massive network of 2700 sales agents and 14,000 assistants, the Development Lotteries Board (DLB) is reaching new heights during the end of the third quarter of the current financial year.
The DLB recorded financial achievements with a turnover of Rs. 12.9 billion during the third quarter this year compared to revenue of Rs. 12.3 billion, a growth of 5 per cent during the same period last year.
If the daily sales continues unabated and everything goes well according to marketing plan, the DBL will be able to surpass this year’s revenue target of Rs.17.6 billion with ease, DBL Chairman S. A. P. Sooriyapperuma told the Business Times.
The Board has initiated an investment advisory service for jackpot lottery winners becoming millionaires and digital transformation of the DLB lottery to drive growth though increasing sales and attracting more Sri Lankans including more youths in this sphere.
The Board posted a profit after tax amounting to Rs.1.9 billion and profit before tax of Rs. 2.97 billion in the third quarter this year compared to Rs.1.7 billion and Rs.1.9 billion, respectively during the same period of 2018, he disclosed.
This was a 16 per cent increase in profit compared to statistics of 2018; he said adding that the DLB has been able to achieve the third quarter revenue target of Rs. 12.9 billion despite the 80 per cent drop in sales in the aftermath of Easter terror.
Mr. Sooriyapperuma noted that the DLB has been able to achieve 105 per cent growth in sales within three months after the setback due to the dedication of the sales team.
It has contributed Rs.1.9 billion, the total profit, to the President’s Fund in accordance with statutory requirements; he revealed adding that the board has distributed Rs. 6.3 billion among the lottery winners during the third quarter of 2019.
In addition to the direct contribution to the President’s Fund, the DLB is a significant contributor to the government’s tax revenue. The Board has paid Rs. 760 million as taxes (VAT and NBT) to the government for the period ended September 2019, he added.
With 10 lotteries and the oldest instant lottery of Sri Lanka the Development instant scratch lottery ticket, the DLB is maintaining 47 per cent market share increasing business volumes.
These lotteries are creating many multi millionaires; he said pointing out in fact, during the period under review, they have produced 37 super jackpot winners distributing a sum of Rs.712 million among them.
He disclosed that the Kapruka Lottery has been able to award the biggest jackpot recently in the history of Sri Lankan lotteries.
This lottery starts with an initial jackpot of Rs. 7.5 million and a Ratnapura resident has won the final jackpot of over Rs. 145 million in the 513th draw of September 27, 2019.
The main aim of the DLB is recognized as the foremost lottery issuing organisation in the country that works towards developing and enriching the Sri Lankan economy.
It is also an important contributor to the President’s Fund, which provides a range of welfare measures for the people with financial difficulties in obtaining medical facilities.
The DLB is paying a dealers commission of Rs. 3.75 (18.75 per cent) per ticket while providing various welfare facilities to sales assistants.
These lotteries are creating many multi millionaires; he said pointing out in fact, during the period under review, they have produced 37 super jackpot winners distributing a sum of Rs.712 million among them