Ho Chi Minh City Lottery Reports Near $80 Million Profit, Faces Tax Penalty

The Ho Chi Minh City Lottery Company (XSKT TP.HCM) announced a strong financial performance for 2025, reporting pre-tax profits of nearly 2 trillion VND (approximately $80 million USD). This figure, while a slight decrease of nearly 11% from 2024, marks the second-highest profit in the company's history.

Total revenue for the year reached 14.2 trillion VND, an increase of nearly 11% compared to the previous year. Lottery sales, encompassing traditional and scratch-off tickets, formed the dominant share, accounting for approximately 98% of this revenue, totaling 12.8 trillion VND.

The dip in profit is attributed to a significant reduction in "other income," which fell to 43 billion VND in 2025 from 304.5 billion VND in 2024. Additionally, "other expenses" surged to nearly 110 billion VND, a sharp rise from just over 1.5 billion VND in the prior year. Financial statements indicate this increase in expenses was due to a penalty payment for administrative violations, as per Decision No. 990 from the Tax Department.

Despite these factors, the company's financial health remains robust. XSKT TP.HCM holds substantial liquid assets, with nearly 1.9 trillion VND in bank deposits, split between short-term (1-3 months) and medium-term (6-12 months) accounts. As a subsidiary of the Ho Chi Minh City Investment and Financial Company (HFIC), the lottery enterprise employed 376 staff at the end of 2025.

Looking ahead, XSKT TP.HCM has set an ambitious target for the current year, aiming for revenue growth of at least 10%. The company projects pre-tax profit to reach 2.005 trillion VND, based on an anticipated sales consumption rate of 98.7%.