State lottery company revenue climbs 32% in H1

Telco

Hungarian state-owned lottery company Szerencsejáték closed the first half of 2014 with a revenue of HUF 148 bln, up by 32% compared to the same period last year, National Development Minister Miklós Seszták announced on Monday.

Szerencsejáték contributed to the central budget with HUF 35.4 bln in H1 2014, which is 21% more than in 2013. Its net profit reaches HUF 8.7 bln year-on-year, up 55%. The lottery company has become one of Hungary's top ten taxpayers, Seszták added.

Two-thirds of the company’s revenue come from the popular number-picking lottery games, like the weekly pick-five, said Szerencsejáték’s chairman-CEO Kálmán Szentpétery. The company distributed HUF 84.7 bln as payouts to winners in the first half. Due to the soccer World Cup in Brazil, turnover of sports betting rose by 40%,  reaching HUF 29.6 bln.

Out of a revenue of HUF 100, HUF 56 are paid out as winnings, HUF 4.1 go to pay personal income tax on winnings, HUF 14.5 are absorbed by the game tax and another HUF 2.5 by indirect taxes. HUF 4.8 go to sales partners while HUF 12 go to payroll. The remaining HUF 6 is pre-tax profit, the CEO added.

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