KENTUCKY LOTTERY SALES CONTINUE ON RECORD-BREAKING PACE
In today's meeting of the Kentucky Lottery board of directors, sales through the end of May were announced - and with the last month of the fiscal year yet to be reported, sales appear ready to again break the all-time sales record for the organization.
Vice President and Corporate Controller Maggie Garrison reported fiscal year-to-date sales (July-May) totaled $1.54 billion, which is $85.6 million (or 5.9%) more than the same period last year, and $82.0 million (or 5.6%) more than budgeted.
Garrison reported internet sales continued their growth, with the channel finishing the period with $225.3 million in sales. This is $102.6 million (83.6%) more than last year and $29.8 million (15.2%) more that budget. Scratch-off tickets continued as the largest sales revenue generator, finishing the period at $886.7 million, which is $6.0 million (or 0.7%) more than the previous year-to-date. Garrison noted Instant Play sales via the internet are the second-highest sales product overall, behind only Scratch-off games.
"The results so far in this fiscal year clearly show we're giving players the games they want, where they want to play them and with the level of integrity they demand," said Kentucky Lottery President and CEO Mary Harville. "We've worked hard to be intentional and strategic with our products, making sure to continue to deliver fun and entertaining games to our players. And they've responded by pushing our sales to record-breaking levels."
In other action, the board approved the Lottery's budget for FY23. The plan calls for a total sales goal at $1.80 billion. The board also approved dividend transfers to the Commonwealth of $335.0 million.
Harville also shared news that the Kentucky Lottery was once again ranked as a Best Place to Work in Kentucky (medium-size company) by the Kentucky Chamber of Commerce and the Kentucky Society for Human Resource Management. The award is given based on results of an employee survey of workplace satisfaction and an evaluation of policies, practices, and demographics. The Kentucky Lottery competed in the medium company designation of businesses with 150 to 499 employees. This is the second straight year the corporation has received the designation, being named as the overall Best Place to Work in 2021.
In other business, the board approved rules and regulations for seven Scratch-off games and three Instant Play games.
The next meeting of the KLC's board of directors will be July 22, 2022. The meeting will begin at 10:00 AM EST, and will be held at the KLC headquarters at 1011 West Main Street in Louisville. The audit committee meeting and the procurement committee meeting will begin at 9:00 AM EST.
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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<http://www.k
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For two consecutive years, the KLC has been recognized as a Best Places to Work in Kentucky and was named the #1 best place to work for medium size employers in 2021.