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Sunday 22 October 2017
Local

NLCB records $300M profit for 2016/17

National Lotteries Control Board (NLCB) has reported a net contribution of $300m for the financial year 2016/2017 which has surpassed all previous profitability targets since the organisation was established 49 years ago.

In a release yesterday, NLCB chairman Marvin Johncilla said the achievement was due to “a re-focused and re-energised management team driven by clear strategic priorities.”

He said as part of its overall strategy, the NLCB has also revised its business model to reflect a realignment of its relationship with gaming contractor International Gaming Technology formerly GTECH. In addition, the NLCB expanded its gaming network to attract new players to its continuously growing suite of gaming options, the release added.

“In light of the challenging economic times this country now faces, NLCB’s contribution to the economic development of Trinidad and Tobago is not just in terms of revenue but in its support of initiatives that are part of NLCB’s outreach programmes in the primary areas of sport, education, youth development, arts and culture and community outreach. Based on its current outcome, the NLCB foresees a healthy projection for the upcoming 2017/2018 fiscal year and is determined to continue on this successful trend.”

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