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Tag: lottery

  • HCMC lottery firm reports record H1 profits

    HCMC lottery firm reports record H1 profits

    The HCMC Lottery Company Ltd. earned profits of VND736 billion (over $31.46 million) in the first half of the year, an increase of 27% year-on-year.

    The company recorded H1 revenues of VND5.46 trillion, completing nearly 54% of the year’s target, the company said in its financial statement.

    The main source of income was the sale of traditional lottery tickets and scratch-off tickets; and the rest from office leasing and printing.

    The company leaders said that from the beginning of the year until mid-July, the company had paid out more than VND2.8 trillion to lottery winners

    After deducting all expenses, the company made a profit of VND736 billion. This was a record high in the company’s history.

    The company’s revenue and profits have been increasing steadily over the last 10 years.

    Current sales are twice as high as they were in the first half of the year 10 years ago, and profits have increased three-fold.

    The company’s management said demand for lottery tickets in the southern region has grown continuously, and the Ministry of Finance has increased the ticket volume by 10% to cover a larger area and expand its agent network.

    The scratch-off lottery, which has been in operation since the end of 2018, has also been successful, covering nine provinces and accounting for 4-5% of annual revenue.

    The company’s total assets exceed VND2.6 trillion, while its liabilities exceed VND900 billion. Cash and bank deposits account for a sizable portion of the asset structure.

    This year, the company expects revenues of VND10.15 trillion and pre-tax profits of VND1.17 trillion. Its payment to the state budget is estimated at around VND3.04 trillion.

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  • HCMC Lottery Company profits soar

    HCMC Lottery Company profits soar

    The HCMC Lottery Company Ltd. made pretax profits of over VND1.3 trillion ($56.29 million) last year, up 13.7 percent from 2018.

    Its revenues were up 15.2 percent to VND8.9 trillion ($385.4 million), it said in a release. Three percent of its revenues came from printing and rents.

    While traditional lottery tickets accounted most of the revenues, nearly VND500 billion ($21.65 million), or over 5.6 percent, came from a new scratch card that allows customers to know the results immediately.

    Scratch tickets are growing well, exceeding management expectations, but are limited by our printing capacity,” a company spokesperson said.

    The firm targets revenues of VND10.29 trillion ($445.6 million) and pre-tax profit of VND1.2 trillion ($51.9 million) this year. It is researching a new product recently approved by the Ministry of Finance, which will allow customers to choose their own numbers.

    It is expected to help regain market share from its main competitor, American-style computerized lottery firm Vietlott, HCMC Lottery said.

    The traditional lottery involves tickets with numbers printed on them and a top prize of VND2 billion ($86,500) after it was increased by 33 percent in 2018.

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  • Vietnam lottery firms hike prizes amid tough competition

    Vietnam lottery firms hike prizes amid tough competition

    Traditional lottery companies throughout Vietnam’s south have officially raised their top prizes by a third in an effort to compete with a new emerging American-style jackpot.

    Effective January 1, the firms increased their top prizes to VND2 billion (nearly $86,100), up 33.3 percent from VND1.5 billion ($64,600).

    The hike was based on a decision made by the Southern Lottery Council in October of 2016. Prior to that, traditional lottery prizes in Vietnam topped out at VND1.5 billion ($64,600). Companies who sold the numbered tickets have complained that the mega jackpots have eaten up their businesses.

    A manager at a traditional lottery in Ho Chi Minh City told VnExpress in early October that the number of tickets sold in recent months had declined by about 10-30 percent due to competition from Vietlott.

    On Christmas day, Vietlott, the operator of the American-style lottery, announced that two winners had split a $7 million jackpot–the largest to date. The pair represented the seventh and eighth winners of the lottery, which began two months prior.

    Vietnam’s annual average income was around $2,100 in 2015, according to the World Bank.

    Vietnam generally does not allow its citizens to gamble, but lottery tickets are popular across the country.

  • Scientific Games renews lottery supply deal in Philippines

    Scientific Games renews lottery supply deal in Philippines

    The three-year extension ends in July 2018, and will see Scientific Games supply POSC with 1,500 new WAVE lottery terminals by the end of the year.

    “Scientific Games has demonstrated a strong commitment to our systems technology over the last decade, and we are pleased to continue working together to grow lottery sales in the Philippines,” POSC president Willy Ocier said.

    “The new terminals installed through this contract extension will allow us to retire some of our older terminals and provide our retailers with advanced technology that drives efficiencies and makes it easy and convenient for retailers to sell lottery games,” Ocier has explained.

    Scientific Games has provided POSC with products and services since 2005, supplying instant games and an instant ticket validation system in addition to the systems and retail technology.

    Founded in 1993, POSC sources and leases gaming technology to the Philippine Charity Sweepstakes Office (PCSO) and supplies the Visayas and Mindanao regions with lottery technology since 1995. It also leases keno terminals and an online operating system to PCSO across the country, having signed an agreement in 2004.

    “We appreciate the professionalism and creativity exhibited by POSC and its leadership team, and we look forward to supporting their numerous growth initiatives over the next several years,” Scientific Games president of corporate development and global strategic accounts Michael Conforti said.