Logo of Phnom Penh Post newspaper Phnom Penh Post - National Sports Lottery gets approval for revival

National Sports Lottery gets approval for revival

National Sports Lottery gets approval for revival

After a two-year hiatus, the National Sports Lottery was relaunched on Tuesday following an approval by Prime Minister Hun Sen and the Ministry of Economy and Finance. “Even though we lost over a hundred thousand dollars [previously], we still want to do it again and are ready to risk losses of US$5 million over the next two years with US$20 million of investment,” Lin Lun, a director of National Sport Lottery Co. Ltd, said at a press conference at the Sunway Hotel on Tuesday. The lottery sees 25 percent of its revenue from ticket sales go towardas funding the activities of the National Olympic Committee of Cambodia, while 65 percent is given out as cash prizes and 10 percent is taxed. TRANSLATED BY PANN RETHEA

MOST VIEWED

  • Hun Sen’s China visit ‘a good opportunity’

    Prime Minister Hun Sen’s visit to Beijing on Sunday to discuss economic and trade issues presents a good opportunity for the Kingdom to strengthen Chinese ties and counter punitive measures by the West, an analyst says. The prime minister’s four-day official visit to

  • Close to the edge: Hair raising pictures from Kulen Mountain

    A new hair raising attraction on Kulen Mountain has finally opened to the public, with people flocking to the protruding cliff edge overlooking green mountainous forests to take photographs. The giant overhanging rock is situated in an area known as Mahendraparvata – an ancient city of

  • ‘Action needed to stop road deaths doubling by next year’

    Minister of Interior Sar Kheng has expressed concern over the rate of traffic accidents, saying the death toll will double by 2020 if no effective preventive measures were put in place. At least five people on average are killed on Cambodian roads every day. The interior

  • Cambodian rice to lose EU duty-free status

    The Cambodian rice sector is set to lose its duty-free export status to the EU today – its major rice market – after the European bloc decided to impose tariffs on rice from Cambodia and Myanmar to curb a surge in such imports. The decision will be