Mauritius gaming major Lottotech sees gross ticket sales of Rs 2.73 bn in 2014
Lottotech currently features as the most popular lottery of the country, creating 127 jackpots with a retail network of 900 retailers earning on average yearly Rs 160,000 as commissions. (Image: business.mega.mu)
Mauritius gaming major Lottotech posted profits of Rs 167 million and a net income of Rs 725 million for the year ended 2014, fuelled by gross tickets sales of Rs 2.73 billion.
Lottotech Ltd, listed on the Stock Exchange of Mauritius since 11 June 2014 after a successful public offering with a subscription ratio of 2.99 times, has become a popular lottery brand in Mauritius over the last 5 years.
The amount given as prize winnings stood at Rs 1.38 billion and Rs 621.81 million was dedicated to the consolidated fund of the government of Mauritius. It may be noted that money paid into the fund is used to implement projects of community development, promotion of health, sports, culture and the reimbursement of public debt of the Government of Mauritius.
Lottotech currently offers two categories of games on the market, namely, lotto and quick win games, on which an average weekly spend of Rs 73 is given to lotto games and Rs 55 on Quick win games as a per survey carried out by Ipsos Reid, an international firm engaged in market research.
Lottotech currently features as the most popular lottery brand of the country, creating 127 jackpots with a retail network of 900 retailers earning on average yearly Rs 160,000 as commissions.
The earning per share of the company amounted to Rs 0.49 and a dividend per share of Rs 0.49 was declared in 2014, representing a dividend yield of 5.4% at the current price of Rs 9.00.
In its comments on the company’s outlook, management added that the company continues to grow despite the restrictions on new games while fundamentals of the business remains strong.
The new Minister of Finance has announced that the government will conduct a review of the gaming industry but no official announcement has been made so far on the changes to be brought, creating uncertainty for operators.
About the Company:
Lottotech was incorporated on 8 April 2008 by Gamma-Civic Ltd (“Gamma”) for the purpose of operating lotteries and generally to do all related activities within the gaming industry.
In April 2009, the Gambling Regulatory Authority (“GRA”) issued an exclusive license to Lottotech to operate the Mauritius National Lottery for a period of 10 years, renewable for further successive periods not exceeding 5 years each and in October 2009, Lottotech launched La Loterie Nationale in Mauritius and Rodrigues with the sale of lottery games through an initial network of 542 retailers.
Lottotech is a member of the World Lottery Association (“WLA”), the global authority on lottery business.