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Boledo to rake in $70 million

HeadlineBoledo to rake in $70 million

Photo: Hon. John Briceño, PM and Minister of Finance

by Kristen Ku

BELIZE CITY, Mon. Feb. 19, 2024

It has now been 2 months since the return of Boledo in Belize, under new proprietors — the Belize Government Lotteries Limited (BGLL).

The number one Belizean pastime came to an unexpected halt back in May 2023 after allegations of numerous breaches conducted by former owners, the Caribbean Gaming Company Limited (CGCL) and Brad’s Gaming Group.

Their license was subsequently revoked and the national game was paused for 6 months.

Under the government’s new agents, Nando’s Wholesale Ltd. and MGM Entertainment Ltd., the Boledo resumed on December 1, 2023, with its first draw on December 3.

Since then, the business has been booming, with numerous Asian and local businesses selling. And we may have underestimated just how much it has grown.

According to the Minister of Finance and Prime Minister, Hon. John Briceño, the prediction is for the Boledo to gross over $70 million.

“From what we’re looking at, we are going to exceed over $70 million in sales in one year. If you remember, previously they were reporting 18 and 19 million and 20 million. We are exceeding over $70 million,” he stated.

With such a large quantity of revenues, the Cabinet has discussed proper allocation to different departments at the end of the financial year.

“At the end of the financial year, then, that monies are going to be allocated, as we said, to the public. We discussed in Cabinet, that most of the money we want to put into the national health insurance. And also to the charities program, and some for sports,” Briceño said.

With approximately a figure of 6 million a month, we asked some stores if they believed that quantity was accurate based on the amount they were selling. One manager told us that, although it would be difficult to share a definite number because of how much sales fluctuate, he believes that it is possible, especially with the introduction of online services.

“You don’t have to be standing in line anymore. Why should you wait until the last appointed time to go buy Boledo? That’s how it used to be. People aren’t doing that anymore. Now you have some agents doing online purchase, so you don’t have to leave your house anymore to go buy Boledo; now we take cards to purchase Boledo too,” he told us.

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