La Polla Chilena's net profit soared 72% at the start of 2026
The first quarter brought strong numbers for Polla Chilena de Beneficencia. The state-owned company reported gross revenues of CLP 36,750.7 million (approximately US$ 39.6 million) between January and March, a 24 percent increase over the same period last year. Net profit, however, was the figure that most caught the attention of industry analysts, with a 72.4 percent year-on-year jump, reaching CLP 592 million (about US$ 638,300).
The driving force of the quarter was, once again, the Loto vertical. Sales from this game boosted gross revenue growth, while, in parallel, the company managed to reduce its cost of sales from CLP 1,502 million to CLP 1,101.7 million, which significantly improved the gross margin. The combination of higher turnover and lower costs led to a gross profit increase from CLP 3,965 million to CLP 5,394.9 million (about US$ 5.8 million), a development that provided breathing room for the operator's entire financial structure.
Administrative expenses also grew, reaching CLP 5,247.8 million (about US$ 5.7 million), compared to CLP 4,168 million recorded a year ago. Even so, the net effect for the quarter remained positive, thanks to revenue growth comfortably offsetting the increase in internal spending. After deducting taxes, prizes, and legal contributions, the net operating income reached CLP 6,496.6 million (US$ 7 million), up from CLP 5,466.9 million in the first quarter of 2025.
The financial position of the Chilean state-owned company also shows strength. As of March 31, Polla held CLP 9,406.8 million in cash and equivalents (about US$ 10.1 million), plus other current financial assets of CLP 21,166.9 million (US$ 22.8 million). Total equity reached CLP 11,611.8 million (US$ 12.5 million), up from CLP 11,019.8 million at the end of 2025. In terms of cash flow, the company went from a net outflow of CLP 3,838 million to a net increase of CLP 3,141.4 million during the period.
The report comes amid an intense public debate about the role of state operators in Chile, as the online gambling regulation project advances. Polla has been one of the most active voices in the complaint against advertising by unauthorized platforms and, in parallel, seeks to defend its competitive position against the future arrival of private operators in the digital market. The quarter's results reinforce this discourse by showing that the traditional business still has the capacity to grow.
For the rest of the region, Polla Chilena's figures serve as a barometer for the state lottery segment. In a scenario where Caixa Loterias in Brazil, Argentine provincial entities, and operators like Lotería de Bogotá are showing sustained growth, the Chilean performance consolidates the idea that traditional gambling remains a pillar of public financing in Latin America, even with the increasing pressure from digital verticals.
Tags: Chile, Polla Chilena, state lotteries, iGaming financial results, LatAm lottery market, Chilean gambling regulation