Boledo Draws Over Five Million in Profits in a Year

The Belize Government Lotteries Limited took over the lottery and Boledo in August 2023, and it’s been a year since they revamped the games. To celebrate this anniversary, they’re raffling off a million dollars just in time for Christmas! Prime Minister John Briceño shared that since the first revamped sale in November 2023, the government has raked in over five million dollars in profits, with total sales surpassing a hundred million dollars. He mentioned that these profits will go towards supporting sports and helping needy families.

 

Prime Minister John Briceño

“The balance sheet, and we are going to be making it public to everybody.  The balance sheet  is very strong with total assets of six point seven million dollars, made up of several assets, including equipment and software development. Please note that B.G.L. was funded through the Ministry of Investment with monies provided by the government of Belize. So all of us, all taxpayers, made an investment in this company. The Profit and Loss Statement reveals a total net income of five point eight million, which is as follows. The revenues between November and March were thirty-six point nine million. The cost of sales, the winnings were thirty-point-six percent. These are the winnings and commissions. Administrative expenses were five hundred thousand, which generated a net profit of five-point-eight percent. The financial audited statements, or the financial audit reveal a very healthy cash flow position at the end of March of 2024, with cash and cash equivalent balance of five million, five hundred and eighty-nine thousand, one hundred and fifteen dollars. The first audited financials of B.G.L represents a healthy statement of accounts of the government’s institution that now manages the government’s lotteries for and on behalf of all Belizeans. For the first time in history, we can report that for the first four months of sales, we believe Boledo is already benefiting the Belizean people with 5. 8 billion dollars. million dollars. Madam Speaker, the board or the management of B.G.L decided to do an unaudited financial report for twelve months. So, you could see how much we, how much we can make in a full year of operations for, from December 1st of 2023 through November 30th of 2024. And this report was presented to the management to the board of the government lunches limited BGL for the period of November. Well, when we, the first seal was on November 21st, 2023, right up to November 30th, 2024. BGL recorded a series of a hundred and eleven million, one hundred and sixty-four thousand, five hundred and eighty plus eighteen cents, which was for Boledo and lottery sales only.”