34. Mr. E. P. Smithasked the Secretary of State for the Colonies what success attended the recent State-sponsored lottery in Gibraltar, how much was 72W subscribed, what percentage was paid out in prizes, what was the amount of the highest prize, who drew it, what total profit was made by the Colony and to what use it will be dedicated.
Mr. Creech JonesThe Gibraltar Government lottery scheme provides for a series of lotteries. The first was held in October of last year when tickets to the value of £10,000 were issued. Prize money totalled £7,048, the highest prize being £3,000. The lottery is now held weekly, but tickets are limited to a total value of £5,000. The percentage paid in prize money is unaltered but the first prize has been reduced to £1,500. I do not know the names of individual prize winners. Up to 31st March the net profit to the Colony was £28,000; these profits are paid into general revenue and are designed to cover the charges on a local housing loan.