Monday, December 18, 2017

NLCB pays $2b to gamblers*

‘highest in history’: Marvin Johncilla, right, chairman of the National Lotteries Control Board (NLCB), fields questions during yesterday’s sitting of the Joint Select Committee on Local Authorities, Service Commissions and Statutory Authorities in Parliament, Tower D, International Waterfront Centre, Port of Spain. At left is Michael Jogee, NLCB director. —Photo courtesy The Office of the Parliament


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IN hard times, people apparently turn to gambling.
At a time of economic difficulty, the National Lotteries Control Board (NLCB) has recorded the highest level of sales and profitability in its history.  In fiscal year 2016/2017, the State company recorded $2.96 billion in revenue.  It paid out 70 per cent of this revenue intake ($2 billion) in prizes while it remitted $306 million to the Treasury.
“It is the highest remittance in the history of the NLCB,” NLCB chairman Mar­vin Johncilla told the Joint Select Committee in Par­­liament yesterday, at Tower D, International Waterfront Centre, Port of Spain.

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