Kentucky Lottery on course for record-breaking fiscal year

Kentucky Lottery
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The Kentucky Lottery’s sales have been pushed to “record-breaking levels” during the 2022 fiscal year, according to its President and CEO Mary Harville.

The lottery’s YTD sales (July-May) totalled $1.54bn, which is $85.6m (5.9%) more than the same period last year, and $82m (5.6%) more than budgeted.

“The results so far in this fiscal year clearly show we’re giving players the game they want, where they want to play them and with the level of integrity they demand,” remarked Harville.

“We’ve worked hard to be intentional and strategic with our products making sure to continue to deliver fun and entertaining games to our players.

“And they’ve responded by pushing our sales to record-breaking levels.”

Vice President and Corporate Controller Maggie Garrison also reported continued growth in the company’s internet sales, with the channel finishing the period with $225.3m in sales.

That figure is $102.6m (83.6%) more than last year and $29.8m (15.2%) more than budget.

Meanwhile, scratch-off tickets proved to be the largest sales revenue generator again, finishing the period at $886.7m, which is $6m (0.7%) more than the previous year-to-date.

Instant Play sales via the internet ranked as the second-highest sales product overall, behind only scratch-off games, noted Garrison.

The lottery is still awaiting completion of its final month (June) of the fiscal year before it can announce definitive figures for FY2022.

Meanwhile, in addition to announcing its sales through the end of May on Friday, the lottery’s Board of Directors also approved its budget for FY2023.

A total sales goal of $1.8bn has been set, and the board has approved dividend transfers to the Commonwealth of $335m.

Furthermore, rules and regulations for sevens scratch-off games and three instant play games were approved.

The lottery’s next Board of Directors meeting will be held at its headquarters in Louisville on July 22.