The State-run Vietnam Computerized Lottery Co. Ltd. (Vietlott) recently announced its preliminary report on the business results for the 2016 fiscal year.
By the end of 2016, Vietlott had been operating in 12 provinces with 2,120 points of sale.
2016 was the first year that Vietlott started operations with the Mega 6/45 lottery and Max 4D which were launched respectively in mid-July and mid-November.
By the end of 2016, the company had expanded its business into 12 cities and provinces, namely Ho Chi Minh City, Can Tho, An Giang, Binh Duong, Dong Nai, Ba Ria Vung Tau, Khanh Hoa, Dak Lak, Da Nang, Hanoi, Hai Phong and Quang Ninh with 2,181 betting terminals with 2,120 points of ticket sale.
Vietlott has attracted and created more than 4,000 employees working for dealers and points of sale.
Towards the end of 2016, Vietlott’s ticket sales (including taxes) had reached nearly $71 million, or about 2.1 per cent of the whole lottery market’s turnover (total lottery market sales of 2016 was estimated at more than $3.3 billion).
Accordingly, Mega 6/45’s revenue was at around $66.4 million while Max4D’s revenue was around $4.3 million.
The majority of the company’s sales in 2016 came from the Ho Chi Minh City market with $45 million, accounting for 63.5 per cent of total sales during the year. Ho Chi Minh City is also the largest local lottery market in the country. The annual turnover of the Ho Chi Minh City Lottery Co. Ltd. has reached more than $221 million.
Apart from Ho Chi Minh City, Can Tho province is the second largest lottery market.
By the end of 2016, domestic customers had won prizes of more than $36.3 million ($33.8 million in Mega 6/45 and $2.5 million in Max4D). Vietlott has already paid more than $34 million to prizewinners.
According to regulation, the rewards are based on 55 per cent of ticket sales.
By December 31 of 2016, Vietlott had submitted an estimated $17 million to the local budget which was more than 24 per cent of its total revenue.
The company officially expanded to the northern Hanoi market at the beginning of December. After that they started operations in Hai Phong and Quang Ninh at the same time.
Ever since consecutive winners took home big prizes, the domestic market has been struck with mega lottery fever.
In the latest news, Vietlott announced that a single ticketholder had won nearly $3.4 million (VND76 billion) on January 29. The win marks the second jackpot of 2017 and the tenth since mid-October, according to the company's website.
Facing tough competition from Vietlott, other lottery companies that sell traditional tickets decided to raise the top prize by 33 per cent to nearly $90,000 (VND2 billion) at the beginning of 2017.
VN Economic Times