Lotto made almost $30 million more in profits over the past year than it did in previous financial years, the Government has revealed.
Minister of Internal Affairs Brooke van Velden said $343.5 million in lottery profits have been allocated to New Zealand communities across the country – an increase of around $29.8 million on previous years.
"The distribution of lottery profits can have a significant and enduring impact on the lives of New Zealanders across a wide range of communities. Being able to ensure lottery funding makes a positive contribution toward current and future generations is a rewarding responsibility," van Velden said.
Lottery profits are generated from Lotto NZ sales and are allocated by the Board. Last financial year over 3000 lottery grants were approved by distribution committees and with this increase further reach to communities is anticipated.
The Board allocates funding to Sport NZ, the New Zealand Film Commission, Creative New Zealand and Ngā Taonga Sound and Vision. It also allocated funds through 18 Lottery distribution committees across the country that consider applications from, and provide direct grants to, community organisations.
The profit announcement comes after millions of tickets were sold for a mega $50 million Powerball jackpot earlier this month.
Seven Powerball tickets won a share of the $50 million must-be-won jackpot, each scoring a total of $7,180,041.
Newshub.
