Sports lottery: “Profligate business”, and the former director gets a €200,000 severance package. You can thank the state

(Foto: www.loterija.si)

Janez Bukovnik, the long-time director of Športna loterija (sports lottery), allegedly collected an additional €200,000 upon retiring. This severance pay exceeds all legal boundaries; not even the largest companies can afford to do this, say experts.

Last year, Športna loterija generated a revenue of €84.4 million from gambling (a year before that it was €79.3 million). Its operational costs amounted to €12 million, and it made a profit of €1.9 million. The profit has also been similar in the preceding years. The company has 30 employees.

High salaries
In 2016, the average monthly salary of employees at Športna loterija was an unbelievable €4,837. As much as €1.74 million was spent on salaries. The total labour costs amounted to €2.29 million or €6,380 a month per employee, which is recorded in the balance sheet of the company for 2016.

Market monopoly
The purpose of Športna loterija is to finance the operation of sports and disability organisations in Slovenia. The lottery also has a monopoly on the organising of sports games. Its business is regulated by a special legislation that facilitates this. When this legislation was adopted, they gave assurances that this would mean more money for sports and disability organisations. But now it is clear that they used a lot of the money primarily for their own activity and particularly the salaries of the management, though other employees are not doing bad either.

Janez Bukovnik (Photo: mediaspeed.net)

High severance pay
Janez Bukovnik
had managed Športna loterija for 22 years before retiring at the end of August 2017. His severance pay was astronomical …