The funds were allocated to the Ministry of Family, Adolescence and Childhood and the Nicaraguan Institute of Sports.
Nicaragua.- The National Lottery of Nicaragua delivered the profits for the month of August, benefiting the Nicaraguan Institute of Sports (IND) and the Ministry of Family, Adolescence and Childhood (MIFAN) with C$ 12,250m (USD 329,568) each, for a total of C$ 24,500m (USD 659,136) in contributions during the month.
The ceremony for the delivery of the funds took place at the Michelle Richardson swimming complex and was led by the general manager of the lottery, Virginia Molina, who was responsible for handing over the checks to both government agencies benefited by these funds.
“In this eighth delivery of the year we total C$ 196m (USD 5.2m) in profits, C$ 98m (USD 2.6m) to MIFAN and C$ 98m (USD 2.6m) to the IND and the fulfillment of this task is mainly thanks to the sellers who every day offer the different Lottery products on the streets of the country bringing luck to the faithful players; to the workers of the National Lottery and to all the families that buy ordinary lottery, scratch cards and now the Insta Cash games,” highlighted Molina.
See also: The National Lottery of Nicaragua delivered USD 3.9m in profits in the first half of the year
Molina also announced that Insta Cash has new games, "Bingo" and "Numbers on Fire" where by investing only C$ 30 you can generate profits of up to C$ 80,000 (USD 2,100).
Analysts believe legal casinos could add 0.3 percent to 1 percent to Thailand’s gross domestic product.
Thailand.- A new report from JP Morgan has predicted that integrated resorts (IR) in Bangkok could collect between US$1.5 bn and US$5bn in revenue annually and between US$0.4bn to US$1.5bn in earnings before interest, taxation and depreciation (EBITDA) with an internal rate of return range of 12 percent to 29 percent.
Analysts also said legal casinos could add from 0.3 percent to 1 percent to the country’s gross domestic product (GDP) and boost tax revenue by 0.4 percent to 1.2 percent.
In May, deputy finance minister Julapun Amornvivat suggested that the casino component would be no more than around 5 percent of the project’s total area. Despite this, JP Morgan said casinos could contribute over 90 percent of the total IRs revenue and estimated that over 50 percent of this revenue will come from foreign tourists.
JP Morgan’s report drew a parallel with the gambling industry in Singapore but pointed out that Thai residents typically earn less than people in Singapore, which may lead to lower local spending. Analysts stressed that if Thai authorities decide to increase the entry fee for locals, this could also affect the number of local visitors to casinos.
Earlier this week, Amornvivat called all relevant state agencies for discussions regarding the process for tax collection, given the constraints outlined in the State Fiscal and Financial Disciplines Act, which the government must comply with.
The act stipulates that tax collection falls under the purview of the Customs, Revenues, and Excise departments within the Finance Ministry and cannot be delegated to a separate committee, as previously suggested by the House. Amornvivat said the debate could be finalised by mid-October.
The draft bill stipulates that complexes should be located in designated areas and operated by companies registered in Thailand with a minimum paid-up capital of THB10bn (US$283m). A policy panel led by the prime minister and a regulatory agency would oversee the industry.
