The Kentucky Lottery has filed a report to its board of directors to the effect that sales have remained strong for the first five months of FY21.
During their regular meeting last week, Vice President and Corporate Controller Maggie Garrison reported sales from July to November were $579.6m, which is 31.9% ($140.2m) more than the same period in the prior year, and 12.8% ($65.9m) more than budgeted.
Net income before dividends and without unclaimed prizes for the timeframe was $127.4m, ahead by 28.2% ($28m) year-on-year and 13.6% ($15.3m) more than budgeted.
The lottery noted that the key to the improved figures was scratch-off tickets, as sales for the period rose by 34.8% ($91.5m) from the previous year. Internet sales also showed strong growth, achieving a 224.1% increase, moving from $12.1m for the timeframe in FY19 to $39.3m in FY21.
Kentucky Lottery President and CEO Mary Harville said: “Our retailers and employees have really stepped up in the face of extraordinary challenges. 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.”
The board also approved an amendment and extension to its current contract with IGT Global Solutions Corporation for its ilottery system, game content and related services. The extension will last for approximately four additional years, commencing on April 17, 2022 and continuing until July 10, 2026.
It also approved the employment contract with performance metrics for new President and CEO Mary Harville, and examined the rules and regulations for nine scratch-off tickets as well as two instant play games and an amended prize structure for its triple jackpot scratch-off game.
The next meeting of the lottery’s board of directors will be January 22, 2021.
