Iowa Lottery Reports Record-Setting Year In Sales, Prize Distribution, Charitable Support And More

in Lottery

The Iowa Lottery released their annual sales numbers last week, revealing record-setting dollar amounts in sales, prize distribution, support of state causes and commissions paid to businesses in Fiscal Year (FY) 2021. “The Iowa Lottery delivered on its promise of responsibly generating revenue for important Iowa causes, even amidst an enormously challenging period,” says CEO Matt Strawn.

Preliminary figures show the Iowa Lottery generated a record $101.7 million in proceeds for the year ending June 30.

Prizes to players also set a record at $288.9 million, as did commissions to retailers at $29.7 million. They raised $2.5 million for the Iowa Veterans Trust Fund and proceeds were distributed to the Public Safety Survivor Benefits Fund and Department of Corrections Survivor Benefits Fund, which help with insurance costs for the families of Iowa peace officers, fire fighters and corrections employees who die in the line of duty.

The organization also had a clean audit from the state and operating expenses well below budget.

“This was a year of adjustments and adaptation for the Iowa Lottery as it was for us all,” says Josh Cook, chair of the Iowa Lottery Board. “As a citizen board member, it has been gratifying to see the integrity, public-mindedness and Iowa work ethic actively demonstrated by the lottery and the local businesses that sell its products.”

These positive outcomes were the result of two main factors: a spike in scratch ticket sales and two significant jackpots in national lotto games.

https://www.1380kcim.com/2021/08/07/iowa-lottery-reports-record-setting-year-in-sales-prize-distribution-charitable-support-and-more/