14 Oct 2010

Lotto makes substantial profit

12:09 am on 14 October 2010

New Zealand Lotteries has made a substantial profit of $159 million coming off the back of the recession, but it is well below the record of two years ago.

Lotto's results for the 2009 to 2010 financial year show sales reached $782 million.

The previous year's record sales were $907 million, which were largely driven by two massive Must be Won jackpots.

Lotteries chief executive Todd McLeay says this year's profit is a good result considering the tougher economic times.

He says it has to take into consideration that the two lucrative Must be Won events of 2008 happen only about once every 25 years.