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The Government of the Republic of Serbia

In the service of citizens

Lottery revenues will go to social welfare protection, sport development, Finance Minister says

Belgrade, 23 June 2004

Serbian Minister of Finance Mladjan Dinkic presented a bill on games of chance today, saying that the bill will inject lottery revenues into state budget and provide additional funding for disability organisations, social welfare protection institutions, humanitarian and sport organisations, as well as local governments. The bill stipulates minimal fiscal revenues of €70 million in 2005.

Mladjan Dinkic

The government approved the bill at a session yesterday along with eight other bills that are due to be debated at an extraordinary session of the parliament. According to Dinkic, the session is scheduled to start next Wednesday.

The bill describes four types of games of chance: classic games of chance (lottery, bingo and lotto), other games of chance (casino gambling, slot machine gambling and sports betting), Internet games of chance, and prize competitions.

Classic games of chance are expected to account for €30 million of the projected €70 million fiscal revenue, casino and slot machine gambling for €15 million, and Internet games of chance and prize competitions for €5 million each.

According to Dinkic, 60 percent of games of chance revenues will go to the state budget and 10 percent to each the fund for financing disability and social welfare protection institutions, the fund for financing humanitarian activities, the fund for sport financing, and the fund for financing local government programs.

The bill also proposes the setting up of the Serbian state lottery that would have a monopoly in classic games of chance, the Minister added.

It stipulates ten casino licences, said Dinkic and explained that casinos must have a capital of €1 million a make a deposit of €300,000 in order to obtain a €500,000 licence.

The bill also envisages the setting up of a games of chance administration which will monitor implementation of the games of chance law along with the tax administration, the Minister said.