National lottery surplus falls to €7.2 million in 2025
Cyprus’ national lottery recorded a €7.2 million surplus in 2025 as a €1.23 million modernisation tender remains underway.
Nicosia, Cyprus. The national lottery’s surplus fell to €7.2 million in 2025 from €8.8 million a year earlier, institute head Angelos Efthymiou said on Friday. Revenue for the current year was tracking at similar levels to last year, reaching about €12 million by the end of last month.
Surplus and revenue
Speaking to the Cyprus News Agency, Efthymiou said lottery surpluses are channelled into the state’s permanent fund, which also receives prize money left unclaimed by winners.
He said revenue had declined in recent years, making modernisation necessary.
Modernisation tender
The accountant-general has issued a tender for modernisation, which is currently underway, Efthymiou said.
According to a finance ministry announcement issued in early August, the tender has an estimated value of €1.23 million excluding VAT.
The amount covers a six-year advisory contract rather than the salary of a single consultant. It will fund a small team of legal and financial specialists across three stages: an initial six-month assessment phase, an implementation phase lasting between 18 months and two years, and three years of technical support after the new model is launched.
Of the total amount, €200,000 is allocated for additional support beyond the core scope and €30,000 for a possible extension of support.
Requirements and operating model
Bidders must have annual turnover of at least €2 million and previous experience worth at least €500,000 in advising state lotteries abroad. Commercial and legal experts must each have 10 years of relevant experience.
The final operating model has not been predetermined. The cabinet will assess the contractor’s proposals before any changes are implemented.
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