BLL sells more than 70% of the printed tickets and earns more than Nu 1mn each month
Bhutan Lottery Limited (BLL) has made a gross revenue of Nu 18mn excluding overhead expenses so far since its inception in November last year as a State Owned Enterprise (SOE).
The company, which observed its first year of operation last month, is presently in the process of compiling its annual revenue and will launch the net profit soon. The revenue from the recently launched scratch cards, Thuensum Dharim, however is not accounted in the gross revenue.
BLL’s Chief Executive Officer (CEO) Phenphay R Drukpa said BLL’s first year of operation in the domestic market has gone well. “The recently launched scratch card has also become a success,” he added.
BLL has made profit of more than Nu 1mn a month over the year after paying all the expenditures including prize money. The highest profit of Nu 2.2mn was made in January this year, besides the company having to pay commission to the agents and other necessary expenditures. On an average, more than 75% of the printed tickets have been sold a month.
The CEO said the target from the local market has been achieved.
However, it does not stop here for BLL. The company is now also making a move to launch Phuensum Dharim in the international markets, particularly in India, for which works are also in the pipeline.
“Talks are going on and we will launch once everything is sorted out. As soon as we get a go ahead notice we will launch,” Phenphay R Drukpa said. “The feedbacks from the agents are positive and they want more schemes for entertainment.”
He added that the customers are now aware of their products unlike during the initial launch where the office used to receive numerous inquiries about the availability of the tickets.
“More than 50% of the revenue goes for prizes. The office is looking forward to print Phuensum Dharim tickets with better security features,” the CEO said.
And with its vision to become a responsible gaming organization, BLL has also consented to pay for the used tickets from buyers for environmental concern. The company will pay for the used tickets that are with people to prevent environmental pollution.
Next, BLL plans to go online by launching three online games – lotto, cash words and bingo. The lottery will be launched in May next year. The company will come up with an interactive entertainment gaming platform with full security features for the safety of the players and the company as well. The players need to register with the office along with their bank details for monetary transactions as all transaction for fees and prizes would be done online. The office will, meanwhile, link with a selected bank for money transaction for the game.
The game is web-and-application based where registered players can download the application and play. BLL has tendered out software development works and then will start customization after selecting the software company. The office will also lease the software for the game. The game will also be age restricted, where only players above 18 years of age can take part and play. The players, however, need to provide necessary documents for age verification and bank details. Also, there will be an amount limit to play where the players are restricted if they play for amount that are more than what is prescribed. The game also cannot be played during office hours.
“We do not want people to be deeply engaged, but they should play responsibly,” Phenphay R Drukpa said.
And after a successful completion of a year, BLL is now hoping to tread further by launching a weekly draw lottery.
Krishna Ghalley from Phuentsholing