Golden Casket
Golden Casket is the public limited lottery corporation in Queensland trading on ASX, Australia. It sells lottery tickets and Instant Scratch-Its tickets (scratchcards) through newsagents and other convenience stores. Lottery draws are televised on Channel Seven four nights a week.
Golden Casket makes a net profit of over A$20M a year, from a turnover of over A$800M. Over A$200M is returned to the Queensland Government.[1]
In April, 2007, the Queensland Government decided to sell off Golden Casket to the gambling company, Tattersall's Limited for $530 million, with the proceeds going to the Royal Children's Hospital. The Government will continue to retain ownership of the Queensland asset, and receive the $150 million held in reserves. Taxes will still be collected from Lotteries, however.[2]