Development Lotteries Board achieves Rs. 3 billion in profits for the first time

With the objective of funding the President’s Fund for public services and the Mahapola Higher Education Scholarship Fund, the Development Lotteries Board (DLB) which was founded by Act No.20 of 1997 has recorded Rs.3 billion in profits for the first time, achieving the annual revenue target for 2022.

Due to the economic and political challenges caused by the COVID-19 pandemic, the businesses of the private and public sector were adversely affected. These businesses were unable to meet their objectives and annual revenue targets. DLB’s business operations were also seriously affected due to this. The Chairman, Board of Directors and senior management along with the staff were able to successfully overcome the challenges and manage the situation.

DLB had a strong sales network throughout its 40-year history. The marketing strategy undertaken by the management was followed by the over 20,000 sales agents in the sales network, including the district sales network, which had greatly strengthened DLB. In the midst of the challenges faced, their efforts have proved crucial.

DLB handed over cash prizes to the value of nearly Rs.10 billion in super jackpots to their customers in 2022. Sales agents received sales commissions exceeding Rs.3 billion that year. Having contributed Rs. 837 million in duties and taxes to the government, and covering all other expenditure, DLB achieved a profit of Rs. three billion and a turnover of over Rs. ten billion in 2022.

Under the strong management and supervision of the new Chairman and Board of Directors, DLB undertook a work programme in 2022 that bolstered its success. Sales representatives and distributors from all regions of the country gathered at the annual sales agents conference, ‘Sanwardhana Abhiman,’ which was held with a new outlook with the participation of top provincial officials. Those who achieved the highest annual sales at the district level received cash prizes and certificates to motivate them, which further boosted DLB’s performance.