Caixa lotteries generate $987m in Q1

Caixa Econômica Federal has shared the financial results from the first quarter of the year, a period in which its lotteries generated $987m in revenues, while Brazil’s bank and lottery operator’s net general profits totalled $592m
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Caixa Econômica Federal has shared the financial results from the first quarter of the year, a period in which its lotteries generated $987m in revenues, while Brazil’s bank and lottery operator’s net general profits totalled $592m.

In this three-month period, lotteries grew 30.4% when compared to the same quarter in 2021, according to the official information shared by the bank.

Caixa highlighted that the lotteries are “an important source of revenue to promote Brazil’s social development” and that they “feed the dreams of millions of players.”

In the first quarter, $375m were allocated to government social programs, or around 38.5% of the total. Caixa shared the funds with social security areas, as well as sports, cutler, public security, education and health programs.

Additionally, the contributions in the first quarter were 27.9% higher than the ones from the same period in 2021, while income tax payment was 44.6% higher than in the past quarter.

Despite the encouraging lottery figures, Caixa registered a consolidated net profit of $495m, which represents a 44.5% drop when compared to the first quarter last year, when it reached $908m. Corporate net profit reached the $592m figure, or a decrease of 3.8% year-over-year.

In total, in 2021 the operador reported an 8.2% growth, which meant a new historical record after reaching this achievement also in 2020. In 2021, revenues from all Caixa lottery games totaled $3.6bn in all modalities.

The Mega da Virada 2021 special raffle recorded sales of $296m, the largest amount from a single modality in Caixa’s history, with a 28% growth when compared to 2020 and a 70.4% increase when compared to 2018.