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Lottery good causes cash faces further £2bn shortfall
By Nick Cater, Third Sector Online, 4 May 2007
Lottery funding for good causes raised during the present seven-year licence period to 2009 could suffer a massive shortfall, new estimates reveal.
Even if Camelot's present ticket sales are maintained, the total going to charities has been estimated at £9.6bn, £2.6bn less than the £12.2bn it predicted during the bidding process.
The estimate – from analysis by the Financial Times – is £900m less than the £10.5bn raised in Camelot's first seven-year licence period, and does not take into account the £2.2bn to be diverted from good causes to pay for the Olympics.
A Camelot spokesman said the £9.6bn estimate before Olympic deductions made "unjustified assumptions" about future sales but would not offer an alternative prediction.
Camelot's bid for a third seven-year licence, to extend its contract to 2016, is expected to be confirmed in August, since its only rival is the little known Indian lottery firm of Sugal & Damani.
Meanwhile, the most recent Camelot annual report has revealed that the total salary package of chief executive Dianne Thompson went up 44.8 per cent, from £654,000 in 2005 to £947,000 in 2006. Over the same period, lottery ticket sales went up 5.17 per cent or £246.7m to just over £5bn and funding for good causes rose 3.74 per cent or £50.5m to just under £1.4bn.
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Christine Thompson, 4 May 2007, 13:27
And if people are outraged at Dianne Thompson's greed (and the lack of control from her board) lottery ticket sale are likely to go down further. And who will suffer? Quite possibly people whjo desperately ned the help of charities.[Report this post]