Kentucky Lottery ‘proud’ of ‘strong’ FY2022 sales amid regulation challenges

Kentucky Lottery
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The Kentucky Lottery has announced its sales and net income for the 2022 fiscal year are higher than during the same period last year.

Sales through February total $1.1bn, which is $116.2m (11.8%) more than the prior year and $76.4m (7.5%) more than budget, according to the lottery’s Vice President and Corporate Controller, Maggie Garrison.

Net income for the year currently stands at $231.9m, which is $12.2m (5.6%) higher than the previous year and $18.3m (8.6%) higher than budget, with the third quarter of FY2022 set to conclude this week.

Mary Harville, President and CEO of Kentucky Lottery, commented: “I’m proud of our team and how we’ve been able to generate the additional sales, which will lead to additional funds to the Commonwealth.

“Our operating environment continues to become more challenging due to the explosion of unregulated grey or ‘skill’ machines in retailers, which will clearly syphon dollars meant for the college scholarship and grant initiatives we fund such as the KEES programme.

“We will continue to work to address these challenges, as our state’s best, brightest and most-deserving students are counting on us.”

The lottery’s year-to-year draw games sales did take a slight dip from last year, though, decreasing by $4.9m (1.5%) to $329.5m, which was partly attributed to Mega Millions jackpots failing to scale its previous heights.

However, the total sales gap was closed due to the sales success of scratch-off tickets, where the product line grew 7.8% to $631.6m.

Earlier this month, the lottery was named as one of the best places to work in the state for the second successive year, and its board has also approved a number of contract renewals including with Bulletproof Solutions, who will provide its computer and lottery security services.

The lottery board has also approved rules and regulations for seven scratch-off tickets, five instant play games and revised its rules for the Powerball game.