The Managing Director of the Sierra Leone State Lottery Company (SLSLC) Jerry E. George has said that if there is no Body with laid down rules and regulations, winnings will continue to be determined just by betting companies. “The State Lottery is not doing well as before, companies are here that are not running on their gambling cost – they have other means of getting money and that is seriously affecting us” he said. “So they pay whatever they want and we are getting our revenue only from gambling. We do not have the modern technology because we are handicap and it will be very hard for us to survive if it is not monitored.” In Sierra Leone gambling has never been regulated, there are three Ministries issuing licences to these companies. The Ministry of Trade, Tourism (Tourist Board) and Finance, “Those things should be under us, it is only now the government is thinking about the setting up of a Commission wherein they will be monitored and controlled by a Body.” In his intervention after the presentation of their Budget for 2020, the Principal Deputy Financial Secretary (PDFS) Matthew Dingie said that if their 2018 budgeted revenue was Le21.1 billion and they collected Le11.1 billion means that they are short by almost 50 percent.
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The reasons for the decline as alluded to by George earlier, his Director of Finance Amadu Dumbuya said is because there is no level playing field for Gaming and Betting, the General Elections in 2018 and coupled with the fact that the contract agreement between the SLSLC and Africans Innovation Limited (AIL) came to an end in September 2018 and an addendum was signed with different conditions whereby 30% commission on net sales payable to AIL was reduced to 10%. “SLSLC has the responsibility of repairing vending machines terminals, full payment of cost of machine rolls and payment of network communication fees” Dumbuya added. Dingie then said that they are now projecting a profit before tax of about Le2.1billion, “if I take the margin of difference of performance of 2018, you have missed revenue of 50 percent, what is the assurance that you are catching up in this 2019 and to make it more predictable in 2020 because that variance for 2018 is quite huge” he quizzed. Dumbuya responded that the 2020 Budget was forecasted with varied parameters such as, proposed new Partners would have come on board, a repositioned Odds Sports Betting will be launched, other new Lottery Games are introduced, sales via mobile phone and other on-line systems and a proper regulated marketing environment. “Explain that to us, we are here to look at credible performance and not just talk about numbers, we need to know where the company is going and you are projecting to increase salary by 30 percent and all of that you are recording such shortfall and salary cost once you pronounce them it becomes committed. Demonstrate how are you going to close this gap” he queried further. He explained that estimated figures are based on averages, trends, existing approved rates as contained in the employee’s conditions of service, other agreements and prevailing prices. According to Dumbuya, it is envisaged that the following will prevail for the period under review, the current inflation rate will be stabled and reduced, the fuel price will not exceed Le9,000 in the near future and the foreign exchange rate will stabilize. It is also hoped that the Company will collect rental income from its tenants at Tower Hill which amounts to Le827 million among other income they are expecting.
By Zainab Iyamide Joaque
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