The Development Lotteries Board (DLB) has recorded its highest-ever profit of Rs.
3.6 billion in 2023 and a significant portion of Rs.
3.6 billion goes to the Presidents Fund, the Presidents Media Division said.In 2023, the Development Lotteries Board (DLB) achieved its highest-ever profit in its 40-year history.
This marked a significant milestone as the DLB recorded a profit margin of 32% for the fiscal year 2022-2023, double the previous years figure, the PMD said a statement.Consequently, contributions to both the Presidents Fund and the government saw notable increases, with a 13% rise for the former, surpassing the target, and a 6% increase for the latter.
Mr.
Ajith Gunaratne Narangala, Chairman and CEO of the Development Lotteries Board, attributed this success to strategic measures aimed at mitigating the countrys economic challenges, with special guidance from President Ranil Wickremesinghe, who also serves as the Minister of Finance.The chairman mentioned that measures have been implemented to boost the prize money for both regular and newly introduced special lottery tickets of the Development Lotteries Board.Additionally, the board has initiated the introduction of lottery tickets via digital technology, aiming to provide consumers in the country with a novel experience.
Notably, a percentage of the proceeds are earmarked for education and healthcare initiatives within the country.--PMD