The National Lotteries Authority (NLA) recorded gross sales of EC$68,881,785 for the financial year ending July 31, 2019, about EC$10 million more than the previous year, Minister of Finance, Camillo Gonsalves told Parliament on Wednesday.
In response to a question by Opposition Leader Godwin Friday, Gonsalves said that 76% of the EC$68.9 million in revenue last year went toward direct expenses.
Friday wanted to know what portion of the NLA’s revenue was spent on projects and programmes; and what were the major projects and programmes the NLA supported financially in 2019.
The minister said that of the revenue generated, 55%, or EC$37.9 million was paid out in prizes and expenses, management fees accounted for 10% or EC$6.9 million, agents’ commission, 8% or EC$5.5 million, and other direct expenses amounted to EC$2 million, for a total EC$52,350,000.
Of the remaining EC$16.5 million, approximately EC$4.89 million went towards selling, general and administrative expenses. Approximately EC$9 million went toward contribution and support for numerous projects and programmes in SVG.
The primary one is carnival and carnival activities and cultural activities, which collectively accounted for EC$3.1 million.
Other recipients were the interschool games, National Sports Council, sporting activities generally.
In 2019, cricket, netball, swimming, athletics, football, tennis, fishing, gymnastics, squash, motorsports, cycling, basketball, other sporting activities received funding for a total of EC$907,000.
Monies also went to playing field expenses and educational and medical costs, the minister said, but did not disclose the amount.
The project in 2019 included the Union Island Hard Court rehabilitation,
the construction of the Choppins Hard Court complex, the London Playing Field
pavilion, the Villa Tennis Facility, the Chilli Playing Field, the Fair Hall
Hard Court, and maintenance of existing project that are under the NLA’s
supervision.
The NLA directly employs 102 persons and pays an additional 13 people who are
not employed directly by the NLA for various tasks related to their mandate,
Gonsalves told Parliament.
He said:
“And I wish to congratulate the management and the leadership of the National Lotteries Authority for their phenomenal growth in recent years. We were hearing this announcement of a number close to $70 million this year. Last year was also a record revenue year for the Lottery, which was on the order of $60 million and the year prior to that was also a record year.
“And this is an entity that is well-run, well-managed and generally not interfered with by the executive and I wish to congratulate the leadership for their wonderful work in making the National Lotteries Authorities the power that it is today for sports, culture and education in St. Vincent and the Grenadines.”
rogue state meaning – a nation or state regarded as breaking international law and posing a threat to the security of other nations – source – Oxford
SVG GONE Rogue – That’s what happens when demagogues and despots take over…
The Lottery is a cynically large tax on the poor! The poor are already feeling the results of being poor and here comes yet another tax on them in the form of an opportunity for great riches.
In the days of shackled slavery we had shackles on our hands and feet and beholden mainly to one family in the country.
Today however, without chains, the nation is yet still kept in shackles once again, to one family in a socialist utopian hope of riches but in nevertheless in poverty. A neat trick indeed.
https://www.youtube.com/watch?v=y07vgARrOUE
This news reads like a spy thriller. You can tell who the crook is by what they saying and how they say it. Anybody with 2 senses will understand what the FM is not saying about the profit. While nobody ever wins the grand prize or nothing went to winnings payments? We got-to put 8 to 10 guards on that one. That explanation sounds really easy too easy. Dr. Friday, you know this dude has memory problems, don’t just take his word. I was under the impression that it is mostly successful ex-bank directors and professors in economics and people like that who become ministers of finance. But, we have to put up with this not-a-model citizen less qualified inexperienced substitute for the real thing. Lord.