National Lottery revenue up 14%

Revenue totaled NIS 5.8 billion in 2013

The revenue of Mifal Hapayis, the Israel National Lottery, rose by 14% in 2013 to NIS 5.8 billion. Mifal Hapayis says that NIS 3.5 billion was paid out in prizes, and that 67 new millionaires were created. Lotto was the largest revenue generator.

Mifal Hapayis CEO Eli Dadon estimates the net revenue available for grants totaled NIS 1.5 billion in 2013. The money was allocated for a variety of purposes: NIS 695 million for the construction of classrooms and kindergartens; NIS 695 million to municipalities; and NIS 110 million for other purposes, including student scholarships and grants to discharged soldiers, the arts, culture, sciences, and other ventures.

Mifal Hapayis chairman Major General (res.) Uzi Dayan said, "This year, too, we decided to bring forward the 2015 allocations to municipalities in order to strengthen them, especially those in the periphery and small municipalities. Mifal Hapayis's board of directors agreed to the Ministry of Finance's request to bring forward an extra NIS 1 billion in 2014 for the construction of classrooms and kindergartens."

Published by Globes [online], Israel business news - - on March 25, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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