The National Lotteries Authority (NLA) registered an increase in revenue of just over EC7 million for the 2021/22 financial year which ended on July 31, 2022.
Providing a snapshot of their revenues on Monday, August 29 during the payout of the most recent jackpot of just over half a million dollars, NLA General Manager, Mc Gregor Sealey said for last financial year,revenues amounted to EC$91,675,690.
This compares to a total of EC$84,271,530 earned during the 2020/21 financial year.
Sealey pointed out, however that while the revenues climbed by an estimated nine per cent, the NLA only retains 21-cents from every dollar to finance its various portfolios.
Management fees account for 10-cents of every dollar, 9-cents goes to pay commission for its 95 agents, some of whom make in excess of $100,000 annually, and 60-cents is paid out in prizes.
The NLA, which was set up to support sports and culture in St Vincent and the Grenadines, earns its income though it’s various games of chance offered to the public,with the 3-D currently being it’s most subscribed.
However, the Lottery has broadened its sphere of involvement and is now engaged in education and the provision of medical support to individuals. Sealey said the NLA currently has “well over 2,000 students attending Secondary School throughout this country”, who are provided with uniforms, books and given a stipend to take care of transportation and meals.
Educational support is also being provided to some students attending university in the region or who are at colleges and universities in the USA and in Russia.
Persons have also received support to obtain medical attention in Barbados, Trinidad and Tobago, Guyana and the USA.
The NLA manager listed a number of sports facilities that were either constructed, renovated or otherwise upgraded in communities across the state over the past two years demonstrating that the entity “is a good corporate citizen”. Sealey used the opportunity to urge the population to continue to support the various games offered by the NLA whose lotto outlets dot communities across the state.
The NLA has a staff of 128 at its Pauls Avenue headquarters, Victoria Park and “at other facilities for which the NLA has jurisdiction,”