A meeting between the Kentucky Lottery Corporation’s (KLC) board of directors has revealed that strong sales figures in May have put the group back on track to meet previously budgeted sales amounts for 2020.
According to Interim Chief Operating Officer Maggie Garrison, sales for May saw the corporation register $132.1m, which is $33.7m or 31.9% more than originally budgeted. She said: “This was led by increases in our Scratch-off ticket sales, which jumped 46% or $29.4 million more than expected.”
In addition, total Scratch-off sales for the month were $93m, with Garrison detailing that the daily Pick 3 and Pick 4 draw games also saw significant increases. In fact, Pick 3 exceeded its originally predicted budget by $4.7m (36.5%) with Pick 4 finishing the month with $1.5m more in sales than estimated (38.6%).
Total iLottery sales continued to exceed prior year and saw a 25% budget increase in comparison to the month of April. Moreover, the interim COO stated that June sales are on course to contribute to another strong month.
Interim President and CEO Marty Gibbs added: “Through April our sales were $57m behind budget, as the initial weeks of the pandemic were experienced. Opportunities for discretionary spend were limited and lottery products were available, which led to a significant rebound in May.”
The next meeting of the KLC’s board of directors will be August 20, with proceedings set to get underway at 1pm EST at the KLC headquarters in Louisville