Estonia, Markets and Companies

Although it will be just a few more days till the end of the year, the company’s board chairman Heiki Kranich said that this is the best year in the history of the company. The turnover reaches over 500 mln kroons already and net profit is forecast at 90 mln kroons this year. “The 100 million kroons level is not far away,” he said.

The company’s previous record turnover and profit figures date back to 2008, when they were 434 and 81.8 mln kroons.

Eesti Loto has paid this year 52 mln kroons of gambling tax to the state and 226 mln kroons as winnings. This year has so far yielded 15 lottery millionaires in Estonia.

Kranich said that several factors explain the good results. First, a lot of large jackpots have come out this year, which has made players more active. Second, economic crisis has made people hope to win more. The company has also cut costs actively.

Next year, Eesti Loto wants to get a profit of 47 mln kroons on 528 mln kroons of turnover as gambling tax will be raised from 10 to 18% for number lotteries.