Lottery Sales on record-setting pace
In today’s meeting of the Kentucky Lottery Corporation’s board of directors, it was announced that both sales and net income were up from the record-setting levels of the previous fiscal year.
Vice President and Corporate Controller Maggie Garrison reported total sales through February were $722 million. This is $51.1 million (7.6%) more than the last fiscal year and $22.2 million (3.2%) ahead of budget.
“There are a couple clear indicators for this increase,” said the Lottery’s President and CEO Tom Delacenserie. “The October Mega Millions jackpot run really helped sales. We’ve sold $48.4 million in that game, which is 94.7% more than last year and 64.5% more than budgeted sales. We’ve also seen huge gains in our Scratch-off tickets, which are $32.3 million (8.3%) more than last year and $12.2 million (3%) ahead of budget.”
Delacenserie said the Scratch-off numbers will continue on a growth trajectory, as the Lottery launched its first-every $30 ticket in February. Designed to coincide with the Lottery’s 30th birthday in April, the Break Fort Knox ticket went on sale February 22nd. Based largely on interest in this new game, the lottery realized Scratch-off sales that day of $8.77 million. This shatters the previous one-day sales record of $5.1 million, set on the very first day of modern lottery sales in Kentucky (April 4, 1989).
Garrison also reported that net income before transfer of dividends for the year stands at $188.3 million, which is $14.5 million more than last year and $20.7 million ahead of budget. These are the dollars provided to the Commonwealth to pay for college scholarship and grant programs funded by Lottery proceeds.
In other business, the board approved:
- An agreement with Smartplay International for draw machine maintenance and repair;
- A contract renewal with Gaming Laboratories International for lottery ball testing, random number generator evaluation and related services;
- Contracts with Goldberg Simpson LLC and Valenti Hanley PLLC for legal services;
- Contracts with Ellen Williams LLC and Akin Gump Hauer & Felp LLP for government relations services;
- An increase to the approved FY19 capital budget by $268,000 for new facilities construction, and;
- Rules and regulations for 6 scratch-off tickets, 8 Instant Play games and revised rules for two draw games.
The next meeting of the KLC’s board of directors will be June 14. 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 will begin at 8:30 AM EST, as well as the procurement committee at 9:00 AM EST.
About Kentucky Lottery (www.kylottery.com)
The Kentucky Lottery has earned over $5.1 billion for the Commonwealth since 1989. KLC dividends pay for college scholarships, grants and literacy programs.
Telephone: (502) 560-1677