On September 18, the People's Committee of Ha Tinh province issued Decision No. 5527/UBND-KT approving the financial recovery plan of Ha Tinh Lottery One Member Co., Ltd. This is a 100% state-owned enterprise, owned by the People's Committee of Ha Tinh province.

Currently, the company is trading 3 types of lottery tickets including traditional lottery (Northern tickets); lotto tickets and scratch tickets with immediate results.

According to the report of Ha Tinh Lottery Company Limited, the business losses appeared from 2018 onwards with an accumulated loss of nearly 6.4 billion. In the period from 2019 to 2023, the company's business encountered many difficulties, its operations were not effective, in 2023 it lost nearly 700 million VND. The accumulated loss up to 2023 is more than 6.1 billion VND.

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Company loss report from 2019-2023.

The leader of Ha Tinh Lottery Company Limited said that the main reason is the large prize payout, due to the players' luck. In 2023 alone, this company paid out more than 14.7 billion VND in prizes, accounting for 55% of ticket sales revenue.

According to Ha Tinh Lottery Company, the payout rate for traditional tickets is in accordance with the general regulations of the Ministry of Finance. Currently, the payout rate for lottery tickets (lotto + pair lottery) is 65 times the value of the purchased ticket, which is appropriate. The payout rate for scratch tickets is 50% of the total revenue of tickets sold. The Company believes that the current payout rate is appropriate.

For lotto tickets, there is no limit to the number of tickets a customer can buy for the same set of preferred numbers. (For example, there may be many customers who prefer the same winning number 68 and the number 68 matches the last 2 numbers of the special prize).

According to the company, in reality, the company has limited the number of entries by allowing each agent to write only 50,000 VND for 1 entry number (for 2-digit tickets) and 10,000 VND for 1 entry number (for 3-digit tickets). However, this solution has not been effective.

"Players' strategies focus on a number of prizes that have not appeared for a long time. An agent can receive a value higher than the company's limited value, then share it with other agents," Ha Tinh Lottery Company Limited stated the reason.

Ha Tinh Lottery suffered heavy losses: Due to many winning customers, increased expenses for entertaining guests Ha Tinh Lottery Company suffered heavy losses. One of the reasons for the heavy losses was due to the overwhelming popularity of lottery, many winning customers and because many groups from lottery companies from other provinces came to visit and exchange, so the expenses for entertaining guests increased.