Georgian National Lottery Company holds the exclusive licensee of Lotto and Instant Lotteries in the country. According to the license issued by the Government of Georgia in 2017, the company is managed by GNL Company.
As of the license agreement, term of GNL license is determined by ten years and is valid until 2027.
Due to the scale of the company, the articles on financial transparency have been spread over which it has publicly released its 2018 financial statements.
According to the document, the company received 23,974,000 GEL in revenue from lotto and instant lottery drawing raffles last year. This income is distributed as follows:
• Income from circulating lottery - 6,063,000 GEL, prize expenditure - 3,559,000 GEL;
• Revenue from Instant Games - 17,911,000 GEL, prize expenditure - 10,483,000 GEL.
In total, the lottery company issued 14,042,000 GEL for awards during 2018.
According to the audit report, the company's net income (the difference between income and prize money) was 9,932,000 GEL. According to the document, this revenue was insufficient to cover the company's expenses, hence the company GNL finished 2018 with a loss.
