Financial Daily from THE HINDU group of publications
Thursday, May 30, 2002
Financial Daily from THE HINDU group of publications Thursday, May 30, 2002 |
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Corporate
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Outlook `Gamble' pays off for Playwin Our Bureau
CHENNAI, May 29 PLAYWIN Infravest, the online lottery agency, is all set to break even in 16 weeks of its existence. It revenues are to the tune of Rs 55 crore collected in just nine weeks. In this short span, there have been nine draws, which resulted in two jackpot winners. They were Mr Nilesh Taware, who won Rs 2 crore, and Mr Bimal Kumar Gajmer, who won Rs 8.61 crore. "We expect the numbers to grow and we will break even in the next three to four weeks," says Mr Sanjay Yashroy, Vice-President, Marketing, Playwin Infravest Pvt. Ltd. Set up with an investment of around Rs 350 crore, the company has around 103 retail outlets in Chennai alone. At each of these outlets, it has invested Rs 2.5 lakh for setting up the infrastructure (Playwin terminal, VSAT connectivity etc). The company also has a revenue-sharing arrangement with the State Government of Sikkim (for the Sikkim Super Lotto), which gets 20 per cent of the revenues and the trade network (retailers, distributors) get around 6.2 per cent. Of the rest, 45 per cent goes towards prize money and the company is left with 28.8 per cent of the revenues as its share. Mr Yashroy believes that the current weekly revenues of around Rs 6 crore would go up to Rs 11 crore soon. He believes that more people will try their luck with Playwin because it has managed to break the taboo associated with traditional `paper lotteries'. "We find more middle and upper-middle class people betting on Playwin because of its transparent system of choosing the winner," he says. The weekly draw is telecast on Zee TV, Jaya TV and Ushe TV. The company also plans to launch new games in the future.
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