{"id":36335,"date":"2026-10-28T11:38:24","date_gmt":"2026-10-28T14:38:24","guid":{"rendered":"https:\/\/focusgn.com\/africa\/?p=36335"},"modified":"2026-10-29T11:43:11","modified_gmt":"2026-10-29T14:43:11","slug":"benin-lottery-bloomfield-credit-rating","status":"publish","type":"post","link":"https:\/\/focusgn.com\/africa\/benin-lottery-bloomfield-credit-rating","title":{"rendered":"Benin lottery retains A+ rating despite profit decline"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Higher operating profit and cash holdings helped balance weaker revenue and net income in Bloomfield\u2019s assessment of the national lottery.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Key takeaways:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Benin\u2019s National Lottery retained its A+ long-term and A1- short-term credit ratings, both with stable outlooks.<\/li>\n\n\n\n<li>Revenue fell 3.8 per cent to CFAF98.598bn in 2025, with Bloomfield citing reduced player interest in Lotto games.<\/li>\n\n\n\n<li>Net income declined 35.6 per cent to CFAF4.622bn, while operating profit increased 39.9 per cent to CFAF6.376bn.<\/li>\n\n\n\n<li>Cash and cash equivalents rose approximately 40 per cent to CFAF7.979bn, while financial debt remained broadly stable at CFAF562m.<\/li>\n\n\n\n<li>The ratings remain valid through July 31, 2027, with competitive pressure and strategic-plan implementation among the identified weaknesses.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Benin.- Benin\u2019s National Lottery (LNB) has retained its <strong>A+ long-term and A1- short-term credit ratings<\/strong> from Bloomfield Investment Corporation, a credit-rating agency in C\u00f4te d\u2019Ivoire, despite weaker revenue and net income in 2025. The assessment highlights a mixed financial position, with improved operating profit and higher cash holdings offsetting pressure on sales and the operator\u2019s market position.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">LNB is listed on the <strong>West African Regional Securities Exchange<\/strong> (BRVM) under the ticker symbol LNBB. Both credit ratings carry stable outlooks and are valid through July 31, 2027, according to Bloomfield\u2019s rating sheet, which covers August 2026 to July 2027.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">LNB\u2019s revenue fell 3.8 per cent to CFAF98.598bn (US$174m) in 2025, from CFAF102.544bn (US$181m) a year earlier. Bloomfield attributed the decline to <strong>reduced player interest<\/strong> in Lotto games, while separately identifying competitive pressure on the operator\u2019s market position as a credit-risk concern.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Despite the revenue contraction, <strong>operating profit<\/strong> increased 39.9 per cent to CFAF6.376bn (US$11.3m), from CFAF4.558bn (US$8.1m) in 2024. The operating margin improved from about 4.4 per cent to 6.5 per cent.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Net income, however, fell 35.6 per cent to CFAF4.622bn (US$8.2m), compared with CFAF7.176bn (US$12.7m) in 2024. Bloomfield attributed the contraction in net income to exceptional factors.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The lottery operator\u2019s cash and cash equivalents rose by approximately 40 per cent to CFAF7.979bn (US$14.1m) in 2025, from CFAF5.697bn (US$10.1m) a year earlier. <strong>Financial debt<\/strong> remained broadly stable at CFAF562m (US$1m), compared with CFAF563m in 2024.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bloomfield cited structural changes with favourable prospects, a revised revenue-collection model intended to improve the recovery of <strong>betting stakes<\/strong>, a stronger financial balance and a funding profile based primarily on the company\u2019s own resources as factors supporting its credit profile.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The agency also identified weaknesses, including <strong>competitive pressure<\/strong> on LNB\u2019s market leadership, insufficient implementation of its 2025 strategic plan, declining interest in Lotto games and lower net income due to exceptional factors.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In May, LNB\u2019s <a href=\"https:\/\/focusgn.com\/africa\/benin-lottery-operator-reports-36-profit-decline-amid-illegal-gambling-surge\" data-type=\"link\" data-id=\"https:\/\/focusgn.com\/africa\/benin-lottery-operator-reports-36-profit-decline-amid-illegal-gambling-surge\" target=\"_blank\" rel=\"noopener\">2025 profit decline<\/a> was partly attributed by management to competition from illegal gambling operators, alongside the absence of a one-off gain recorded in 2024 and a higher tax charge. The latest rating assessment provides an updated view of the lottery operator\u2019s credit profile amid those financial and market pressures.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Frequently asked questions (FAQs)<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>What credit ratings did Benin\u2019s National Lottery retain?<\/strong> Bloomfield maintained LNB\u2019s A+ long-term and A1- short-term credit ratings, both with stable outlooks.<\/li>\n\n\n\n<li><strong>Why did Benin\u2019s National Lottery revenue fall in 2025?<\/strong> Bloomfield attributed the decline to reduced player interest in Lotto games. It separately identified competitive pressure as a credit-risk concern.<\/li>\n\n\n\n<li><strong>How much revenue and net income did LNB report in 2025?<\/strong> LNB reported revenue of CFAF98.598bn (US$174m) and net income of CFAF4.622bn (US$8.2m).<\/li>\n\n\n\n<li><strong>When do the ratings expire?<\/strong> Both ratings are valid through July 31, 2027, according to Bloomfield\u2019s rating sheet.<\/li>\n<\/ul>\n\n\n<div id=\"see-also-container\">\n\t\t\t<span class=\"see-also-label\">See also:<\/span><\/p>\n<div class=\"related-article\">\n\t\t\t\t<img decoding=\"async\" class=\"related-article__thumbnail\" src=\"https:\/\/focusgn.com\/africa\/wp-content\/uploads\/sites\/7\/2026\/09\/LONACI-1-1-300x200.jpg\" alt=\"\"><\/p>\n<p class=\"related-article__text\">\n\t\t\t\t\t<span class=\"see-also-label-strong\">See also:<\/span> <a href=\"https:\/\/focusgn.com\/africa\/cote-divoires-national-lottery-sets-2027-budget-priorities\">C\u00f4te d\u2019Ivoire\u2019s National Lottery sets 2027 budget priorities<\/a>\n\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"<p>Higher operating profit and cash holdings helped balance weaker revenue and net income in Bloomfield\u2019s assessment of the national lottery.<\/p>\n","protected":false},"author":2809,"featured_media":36347,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Benin\u2019s National Lottery (LNB) has retained its A+ long-term and A1- short-term credit ratings from Bloomfield Investment Corporation, despite a 3.8% revenue decline and a 35.6% net income drop in 2025. This mixed financial performance, characterized by increased operating profit and cash holdings, is set against challenges including reduced player interest in Lotto games, competitive pressures, and insufficient strategic plan implementation.","focusai_entities":"Benin\u2019s National Lottery (LNB), Bloomfield Investment Corporation, West African Regional Securities Exchange (BRVM)","focusai_location":"Benin, C\u00f4te d\u2019Ivoire","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), product_ux (0.7), marketing_crm (0.7), payments_fraud_aml (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"LNB Strategic Plan Efficacy?","query":"What specific measures will Benin\u2019s National Lottery implement to address the identified weaknesses in its 2025 strategic plan and mitigate competitive pressures?"},{"label":"Revenue Collection Model Impact?","query":"How is the revised revenue-collection model expected to impact betting stake recovery and overall GGR, and what are the projected timelines for its full implementation and measurable effects?"}],"footnotes":""},"categories":[60022,60012],"tags":[71,73,74],"class_list":["post-36335","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-west-africa","tag-gambling","tag-illegal-gambling","tag-lottery"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/africa\/wp-json\/wp\/v2\/posts\/36335","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/africa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/africa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/africa\/wp-json\/wp\/v2\/users\/2809"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/africa\/wp-json\/wp\/v2\/comments?post=36335"}],"version-history":[{"count":9,"href":"https:\/\/focusgn.com\/africa\/wp-json\/wp\/v2\/posts\/36335\/revisions"}],"predecessor-version":[{"id":36438,"href":"https:\/\/focusgn.com\/africa\/wp-json\/wp\/v2\/posts\/36335\/revisions\/36438"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/africa\/wp-json\/wp\/v2\/media\/36347"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/africa\/wp-json\/wp\/v2\/media?parent=36335"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/africa\/wp-json\/wp\/v2\/categories?post=36335"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/africa\/wp-json\/wp\/v2\/tags?post=36335"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}