Lottery sales remain strong through FY22
With 7 days left until the end of the 3rd quarter of Fiscal Year 2022, in today’s meeting of the Kentucky Lottery Corporation’s board of directors it was announced that sales across the state remain strong.
Sales through February total $1.099 billion, according to the Lottery’s Vice President and Corporate Controller Maggie Garrison. This is $116.2 million (11.8%) more than prior year and $76.4 million (7.5%) more than budget.
Year-to-date draw game sales have dipped slightly from last year, down 1.5% ($4.9 million) to $329.5 million. Garrison said this is due in part to jackpots in the Mega Millions game not reaching their high levels from last year. However, Garrison reported the total sales gap has been closed thanks to Scratch-off ticket sales. That product line is up 7.8% for the year ($45.8 million) to $631.6 million.
Garrison said net income for the year is $231.9 million, which is $12.2 million (5.6%) more than prior year and $18.3 million (8.6%) more than budget.
“I’m proud of our team and how we’ve been able to generate the additional sales, which will lead to additional funds to the Commonwealth,” said Kentucky Lottery President and CEO Mary Harville. “Our operating environment continues to become more challenging due to the explosion of unregulated grey or ‘skill’ machines in retailers, which will clearly siphon dollars meant for the college scholarship and grant initiatives we fund such as the KEES program. We will continue to work to address these challenges, as our state’s best, brightest and most-deserving students are counting on us.”
In other business, the board approved contract renewals with:
In addition, the board approved rules and regulations for seven scratch-off tickets, five Instant Play games and revised rules for the Powerball game.
The next meeting of the KLC’s board of directors will be May 13th. The meeting will begin at 10:00 AM EST, and will be held at the KLC headquarters at 1011 West Main Street in Louisville. Meetings of the audit and procurement committees will begin on that same date at 9:00 AM EST.
The Kentucky Lottery has earned over $6.3 billion for the Commonwealth since 1989. KLC dividends pay for college scholarships, grants and education programs. Visit www.kylottery.com to learn more.