Lottery business is booming

JSC Azerlotereya, state monopoly to draw lotteries in Azerbaijan increased its net profit by 24.8%, the financial report of the company for 2013.

Last year's net profit of the lottery company was 2,210,200 manats with major operating revenue of $ 26.935 million manat. Meanwhile operating income increased by 36%.

For the year were sold 26,194,750 shares of draw and instant lottery tickets. Win two instant lotteries in sales of 4%. Thus 30% of the tickets have been implemented in electronic form.

As a prize there were 177 cars at a total value of 2 million 345.7 AZN.

There have proportionately increased the company's costs, which reached 25.5 million manat. JSC Azerlotereya, as a rule, does not disclose the expenses. Information is provided only on taxes paid to the state budget and social charges. In 2013, tax payments by the lottery company amounted to 894.2 thousand manats, an increase of 188,500 manat. In 2011, tax revenues were approximately 730,000 manat.

Analysis of lottery draws shows that the lottery business in Azerbaijan once again went on the climb, although record levels of previous years are still far. In 2007, for example, the total income of the company amounted to 32.6252 million manat, and tax payments - 4,453,300 manats.

Besides JSC Azerlotereya, gambling in Azerbaijan is JSC Azinteltek. This exclusive company, one of the shareholders of which is the state represented by the Ministry of Youth and Sports, acts as a bookmaker, without disclosing financial statements, including data on payments to the state budget. According to some reports, the services of this office, disposing 510 points of sales (including 339 - in Baku), are enjoyed by at least 100,000 people, who want to get rich instantly. - 08D-

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