The Louisiana Lottery has transferred $47.6m to the state for the third quarter of FY2022, marking a $13.7m decrease year-on-year amid a downturn in lottery sales.
Updating stakeholders on its quarterly revenue and transfers, the lottery detailed that it earned $147.9m in total revenue for the period ending March 31. With $47.6m going towards the state for good causes, this represents 32.2% of total revenue.
Despite the downturn in state transfers, lottery officials noted that previous record sales have taken sales levels to pre-pandemic levels following a robust recovery.
“At a first glance, the decrease in Lottery fiscal year revenue may be surprising,” noted Lottery President, Rose Hudson.
“We anticipated our sales would reflect the easing of pandemic restrictions and the return of other gaming options. After two years of record sales levels, we are pleased our current sales levels are exceeding pre-pandemic levels.
“This is thanks in no small part to the budgetary flexibility afforded to us by the legislature, which has allowed us to increase prize payouts. Our players love that and have truly responded.”
Other financial details reported that lottery retailers earned $8.5m in Q3 as part of its 5% commission plus incentives for cashing winning tickets and bonuses for selling big winning tickets.
Throughout the fiscal year to date, retailers have earned $24.9m from such commissions.