Investment gamble pays off as Camelot makes £77.5m

IN its first full year of operation, annual pre tax profits of £77

IN its first full year of operation, annual pre tax profits of £77.5 million sterling announced this week by Camelot, the private management company which runs Britain's National Lottery, produced a chorus of complaints across the spectrum of British society. There were demands that the lottery pass into State control when Camelot's seven year lease runs out.

Lottery turnover totalled £5.2 billion with £3.7 billion coming from the weekly game and £1.5 billion from instant scratchcards. Just over half of sales revenue was paid out in prize money. Adding to the general air of disenchantment was the six figures bonuses payable to Camelot's senior directors under the company's growth related remuneration scheme.

The bumper results put the four main companies which pumped £50 million into Camelot among the clear winners. Drinks group Cadbury Schweppes, banknote printer De La Rue, US lotteries operator GTech and Racal Electronics will receive dividends of just over £4 million each.