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| Sunday, 25 January 2004 |
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Business |  |
| News Business Features Editorial
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More revenue expected from Development Lotteries by Hiran H. Senewiratne The Development Lotteries Board (DLB) is targeting five billion rupees in sales and expects to surpass one billion rupees in profits this year. Profits from the DLB go to the President's Fund. The Board is looking forward to increasing its contribution to the Fund this year, said DLB Chairman, J.K. Fernando. The DLB last year recorded Rs 3.7 billion in sales, which is the highest ever recorded in the history of Sri Lanka's lottery business. Its contribution to the President's Fund was more than Rs 750 million last year, Fernando added. DLB Director, Harim Peiris said that profits from the DLB is the only source of income to the President's Fund. He said this fund contributes money to many social welfare activities such as education, medical needs, disaster management and scholarship grants, perhaps not met by any other fund. The Board is one of the leading players in Sri Lanka's lottery business and contributes all its profits to the President's Fund, of which 50 per cent is directed to the Mahapola Scholarship Fund, he added. To increase sales and profits this year, DLB has introduced its latest ticket Jayoda to the market. This lottery ticket is drawn on Monday and Thursday. The new ticket offers Super Jackpot and regular cash prices. However, for the first time, DLB has changed the winning structure, which offers a choice between a house or cash for the Jackpot winner and five household appliances packages for the other winners drawn separately. The Jayoda Jackpot will be drawn from six lucky numbers with a machine that has six separate cages containing numbers from 0 to 9. An additional super number between 1 and 20 will be drawn from a separate machine to determine the winners at the snowballing Jackpot, who will be entitled to a cash price of one million rupees or a house of that value. |
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