Belize Government Lotteries Ltd. Reports Almost $6 Million in Net Profit

The Belize Government Lotteries Limited (BGL) has released its financial statements for the period from its inception on December 3, 2023, to March 31, 2024. The report showcases a strong financial performance.

The company reported total revenue of BZD 36.39 million, primarily driven by lottery sales, thermal paper sales, and rental fees from point-of-sale (POS) machines. With a cost of sales amounting to BZD 30.63 million, BGL achieved a gross profit of BZD 6.35 million. After accounting for administrative expenses and other costs, the net profit stood at BZD 5.85 million.

Administrative expenses totalled BZD 306,991, covering professional fees, staff training, and IT expenses, while employee benefit expenses were BZD 168,910, including regular salaries, allowances, and various leave entitlements.

The company commenced its lottery sales on December 3, 2024, and is responsible for administering and selling the Belize Government Lottery, with profits allocated to the National Health Insurance (NHI) and the Official Charities Fund (OCF). The company received a government subvention of BZD 471,246 to support its initial operations. Unclaimed winnings totalled BZD 592,837.