JSC Azerlotereya Sponsors Federation of Minister of Economy

The state monopoly on drawing lotteries in Azerbaijan OJSC Azerlotereya announced the audited financial statement (https://goo.gl/rwjtt4) in 2015, according to which the number of sold lottery tickets has decreased by 3.5% .

In view of the outstanding debts written off (642.5 thousand AZN) and accrued interest on deposits in the bank (252.2 thousand AZN) the total income for 2015 amounted to 28 million 578.9 thousand manat, which is 2.3 % less than in 2014.

In 2015, 17 998 thousand manat (65% of sales) was directed to the payment of winnings. The prize fund was reduced by 1.1%. At the same time, according to the calculations of Azerlotereya, the number of winning tickets was about 5.3 million (+ 9.2%).

The total sold included printed tickets - 13,013,549, instant tickets – 8,006,256 and e-tickets - 5,747,484.

JSC Azerlotereya notes that the main costs in 2015 increased by 62 thousand manat and reached 8.5 million manat. Where and how these funds were spent, the company, as in previous years, did not disclose.

In 2015 JSC Azerlotereya paid to the state budget and the pension fund 1 068.7 thousand manat, which is 6.5% less than in 2014.

During 2015 the amount of retained earnings of the lottery company increased from 4,942,000 to 5,660,000 manat.

It is noteworthy that the management of the JSC distributes profits at its own discretion. In 2015, as dividends to the state budget, it transferred 500,000 AZN, and in the form of sponsorship of the Table Tennis Federation of Azerbaijan – 200,000 AZN. The President of the Table Tennis Federation is the Minister of Economy Shahin Mustafayev. ----08B