Massachusetts Lottery has confirmed that total profits in FY2022 stood at $1.1bn, breaking the billion mark for the second successive year.
Confirming estimates made earlier this year, state treasurer Deborah B. Goldberg noted that lottery revenues stood at a record total of $5.9bn, slightly higher than the $5.8bn recorded in FY21. It marks the eighth consecutive year that lottery revenues breached $5bn.
Net profits, at $1.105bn, fell just shy of net profits made in FY21, which stood at $1.112bn.
“Celebrating its 50th anniversary this year, the Lottery continues to deliver critical resources to all 351 cities and towns in Massachusetts,” said Goldberg, Chair of the Massachusetts Lottery Commission.
“We thank our customers, our retail partners, and our Lottery team members, all of whom play important roles in the Lottery’s success.”
Players won a record sum of $4.3bn throughout FY22, meaning 73.5% of all revenues were returned to players in the form of winnings. Winners received 196 proxies valued at over $1m with 29 prizes topping $2m.
Moreover, lottery retailers earned $335m in commissions and bonuses throughout FY22, another record, over the $333m earned last year.
“With record-setting sales and prizes, and over $1bn returned to communities again this year, Massachusetts is a state of winning for Lottery players, our retail partners, and every city and town in the Commonwealth,” said Mark William Bracken, the Massachusetts Lottery’s Interim Executive Director.