Georgian National Lottery holds an exclusive license on holding a lottery in the country. According to the license issued by the Government of Georgia in 2017, the company is managed by a new company, GNL LLC for a period of ten years, up to 2027.
As of the financial report of GNL LLC for 2020, the company had a loss. The document reads, that the company’s revenue was GEL 29 million from all categories of games, of which GEL 16.11 million was returned to customers in the form of awards, respectively the company's net income from games was GEL 12.86 million.
However, this amount was not enough to cover all the expenses, due to which GNL suffered a loss of GEL 10.7 million. The company finished 2019 with a loss as well, when the net income amounted to GEL 12.6 million, while the loss was GEL 6.2 million.
According to the financial report, the lottery company paid GEL 6.88 million in fees to the state budget in 2020. 2.3 million was spent on advertising and marketing, 2.3 million – on staff salaries, 2.3 million - depreciation and amortization, 0.9 million - ticket printing, and other expenditures amounted to GEL 2.1 million. In total, the company suffered an operating loss of GEL 3.7 million, while the company's loss as a result of financial expenses of GEL 7 million in 2020 amounted to GEL 10.7 million.
Revenue From Games And The Value Of The Prizes:
•Income from all categories of games - GEL 28,978,000, expenditures on prizes for all categories of games GEL 16,111,000. Net income from games GEL 12,867,000. The company distributed 55.6% of its revenue to customers in the form of profit.
According to the segments, the lottery income is distributed as follows:
● Income from instant raffle - GEL 20,975,000, expenditure on instant raffle prize fund – GEL 11,667,000;
● Income from lotto - GEL 7,111,000, expenditure on lotto prize – GEL 4,080,000;
● Income from online games - GEL 892,000, online game prize – GEL 364,000.
