“I am proud of our team’s performance as we faced increasing challenges in the marketplace. Thank you to our retail partners and our customers for their continued support of our mission,” said State Treasurer Deborah B. Goldberg, Chair of the Massachusetts State Lottery Commission. “Because of everyone’s efforts, we are able to provide critical local aid to all 351 communities throughout the state.”
Mass Lottery Produces $1.159 Billion in Net Profit in FY 2024
September 30, 2024
State Treasurer Deborah B. Goldberg announced today that the Massachusetts State Lottery produced $1.159 billion in net profit during the 2024 fiscal year that began July 1, 2023 and ended June 30, 2024. This is the second highest net profit total in the Mass Lottery’s 52-year history, trailing the record of $1.193 billion set last fiscal year.
Mass Lottery revenues totaled $6.168 billion, surpassing the previous record of $6.148 billion set in fiscal year 2023.
“I am proud of our team’s performance as we faced increasing challenges in the marketplace. Thank you to our retail partners and our customers for their continued support of our mission,” said State Treasurer Deborah B. Goldberg, Chair of the Massachusetts State Lottery Commission. “Because of everyone’s efforts, we are able to provide critical local aid to all 351 communities throughout the state.”
Since selling its first ticket in 1972, the Mass Lottery has generated over $155 billion in revenues, awarded over $109 billion in prizes, returned over $33 billion in net profit to the Commonwealth for unrestricted local aid provided to cities and towns, and paid over $8.8 billion in commissions and bonuses to its statewide network of retailers.
“Thanks to our customers, our employees and our retail partners statewide, we were able to deliver over $1 billion to our local communities for the fourth consecutive year,” said Mark William Bracken, Executive Director of the Mass Lottery. “We appreciate Treasurer Goldberg and our Commissioners for their guidance as we continue to introduce new ways to engage our customers and support our retailers.”
With 73.4 percent of all revenue returned to players in the form of winnings in FY 2024, the Lottery set a record by paying out $4.525 billion in prizes, surpassing the previous high of $4.483 billion paid out in FY 2023. Prize payouts can fluctuate from year to year based on the schedule or rate at which players cash in their prizes. In FY 2024, Lottery players won 160 prizes valued at $1 million or more, including three instant prizes of $25 million.
The Lottery’s network of retailers earned $350.7 million in commissions and bonuses in FY 2024, also a record, surpassing the previous high of $350.3 million set in FY 2023.
The Lottery’s administrative costs were 2.2 percent of overall revenues.
The Lottery announced an estimated net profit figure of $1.157 billion in July, noting that the final statement of operations would be completed in the fall.
https://www.masslottery.com/about/mass-lottery-produces-1159-billion-in-net-profit-in-2024