Belize Government Lotteries Reports $72M in Sales Over 8 Months

The Belize Government Lotteries Limited (BGLL) has reported seventy two million dollars in sales for the period, December 1, 2023 to July 31, 2024.  Janel Hales-Espat, the Managing Director for BGLL as well as CEO in Government Finance, Narda Garcia were guests on The Morning Show today where they spoke on the net profit from lotteries over the past eight months, as well as the economic forecast.  

Janel Hales Espat, Managing Director, BGLL: “The sale of the government lottery resumed on December 1, 2023. And after eight months, at July 31, 2024, we have recorded sales of over $72 million. And we are conservatively projecting that by November 30, 2024, which would be 12 months in, that we’ll be reporting sales of over $108 million with a net profit of over $16.5 million after payments for all expenses, commissions and prize winnings are made. We have 472 active sub-agents across the country. So we do feel that we are providing for everyone under the model that we currently have we have two sales distributors, MGM Entertainment Limited and Nando’s Wholesale. So Nando’s Wholesale is responsible for the Eastern region. So they distribute the lottery to the Belize district and the Cayes. And MGM Entertainment they’re responsible for Corozal, Orange Walk, Cayo, Stann Creek, and Toledo districts. And then they have an agreement with the resellers who in turn sell the lottery to the general public and we pay a commission to the sales distributors who then pay a portion of that to the subagent.”

While we are unable to report on the difference in sales between the BGLL and the previous contractor, Brad’s Gaming Company, CEO Narda Garcia did speak on the area of taxes.  According to CEO Garcia, the previous contractor was paying government a mere two million dollars and very little in taxes.

Narda Garcia, CEO (Office of the Prime Minister): “If you would remember that the other company that was running the Boledo or the government lottery was paying from 2010 to 2020, $2 million per year. Plus business tax because the government lottery does not carry a lottery tax like other private sector lotteries. So they were only paying $2 million from 2010 to 2020 per year. Plus, I was looking at the numbers last night, I think the highest, if I’m not mistaken, the highest amount paid in business tax was like $308,000, perhaps $400,000 a year.”

The Belize Gaming Lotteries Limited (BGLL) was formed after government rescinded the contract from Brad’s Gaming Company in May 2023.