Kentucky Lottery Sales Remain Robust for First Five Months of FY 2021
Kentucky Lottery sales have remained robust for the first five months of FY21, according to information given today to the Lottery’s board of directors.
Vice President and Corporate Controller Maggie Garrison reported sales from July through November were $579.6 million, which is $140.2 million (31.9%) more than the same period in the prior year, and $65.9M (12.8%) more than budgeted. Net income before dividends and without unclaimed prizes for the timeframe was $127.4 million. This is $28.0 million (28.2%) more than prior year and $15.3 million (13.6%) more than budget.
Key in this success was Scratch-off tickets, which saw sales for the period rise $91.5 million (34.8%) from the previous year. Internet sales also continue to show strong growth, moving from $12.1 million for the timeframe in FY19 to $39.3 million in FY21, a 224.1% increase.
“Our retailers and employees have really stepped up in the face of extraordinary challenges,” said Kentucky Lottery President and CEO Mary Harville. “Our sales staff in particular has been efficient and effective under adverse circumstances. Everyone has come together around a common good – making sure Kentucky students have the funds they need to attend college.”
In other business, the board approved:
• An amendment and extension to the current contract with IGT Global Solutions Corporation for the iLottery System, Game Content and Related Services. The extension will be for approximately four additional years, commencing on April 17, 2022 and continuing until July 10, 2026.
• The employment contract with performance metrics for new President and CEO Mary Harville.
• Rules and regulations for nine scratch-off tickets and two Instant Play games, and an amended prize structure for the Triple Jackpot Scratch-off game.
The next meeting of the KLC’s board of directors will be January 22, 2021. The meeting will begin at 10 a.m. EST, and will be viewable via the Lottery’s YouTube channel. The audit committee meeting will begin at 8 a,n, EST, as well as the procurement committee at 9 a.m. EST.