Cyprus State Lottery surplus declines as modernization plans proceed

The surplus of the Cyprus State Lottery decreased to €7.2 million in 2025 from €8.8 million in 2024, according to Angelos Efthymiou, head of the State Lottery. Total annual revenue also saw a decline, dropping from €21 million in 2024 to €19 million in 2025. Scratch cards remain the primary revenue source, accounting for 98% of total income, while standard lottery draws contribute the remaining 2%.

To address the ongoing decline in revenues, the Treasury of the Republic has launched a tender process, which was announced by the Ministry of Finance in early August. The project, valued at an estimated €1.23 million excluding VAT, aims to appoint an experienced independent consultant to provide expert support for the modernization of the state lottery institution.

As of the end of August 2026, lottery revenues have reached approximately €12 million, figures that indicate a trend similar to the performance observed in 2025. The modernization process is currently underway to ensure the future viability of the institution.