NLA records gross revenue of $70 million in 2019
The National Lotteries Authority (NLA) recorded gross revenue of EC$70 million at the end of the 2019 financial year, up from EC$58 million in 2018.
General Manager of the NLA McGregor Sealey revealed the figures on December 31, 2019 while speaking at the ‘Set for Life’ handing over ceremony at the Victoria Park.
Sealey, who has been at the helm of the NLA since it started in 1984 (with a few ticket runners and three full time employees) said the figures are significant and shows that the business is on a sound footing.
“Imagine we are a country of 110,000 people and we were able to gross EC$70 million in sales in the last financial year.
“This goes to show that we at the National Lottery, over the years, we have been doing something right and I think that we have been able to keep the integrity of the National Lottery, hence the reason why our sales every year have been increasing,” said Sealey.
He noted that in 2001, sales were around EC$10.5 to EC$11 million and every single year since then, the NLA has been creating records except for two years (2013 and 2014) when a tax was added to winnings.
In January 2013, the government announced that lottery winnings of $500 or less were no longer exempt from a 10% tax. This was among the fiscal measures for 2013.
That was changed on November 1, 2014, when the government announced that the tax on all winnings of all games of the NLA was removed.
“In those two years when the powers that be implemented a tax and then our sales went down about $10 million and then the powers that be removed the tax and from since then our sales have been climbing and I really like to thank the members of the public who have been supporting the National Lottery,” Sealey said, while also thanking staff members who he says have been ensuring that the NLA is a success.
Sealey also noted that the NLA has its own home in Paul’s Avenue and they are a fully computerized entity with 105 staff members and another 150 to 200 persons who earn a decent living from the NLA.
“The NLA is an industry, “stressed Sealey.
Commenting at the same event, Chairman of the Board of Directors of the NLA Murray Bullock said the support the public has been giving to the NLA has allowed them to realize another sales record while supporting sports and culture in the country.
“So, it is important to say thank you to the public in a tangible way and that is what Set for Life is doing,” said Bullock of the game that awarded a house, a car and EC$50,000 in cash to its winner Andre Davy, as well cash prizes to several other persons.
Bullock said that with the public’s support, the NLA was able to refurbish sporting facilities from Sandy Bay to Fitz Hughes and there is hardly any community that does not have physical proof of the work the NLA has been doing.
He noted that one of the country’s main sporting and cultural venues, the Victoria Park, was a “dust bowl” before the NLA took it under its wings and now it is the proud venue for anything cultural.
Murray also noted to that the NLA supported carnival with EC$2.5 million in cash and kind in 2019; they support the National Sports Council to the tune of EC$40,000 every month and that could not have been possible without the public’s support.