July 26, 2013 – The Kentucky Lottery was able to make record-high returns to education, veterans assistance, and the state’s general fund thanks to record sales in the last fiscal year, which ended June 30.
Kentucky players bought more than $846 million worth of lottery tickets last year, growing sales numbers by almost 3 percent over the previous year – the old record.
The Lottery returned $223.8 million to beneficiary programs and paid out nearly $500 million in prize money.
Arch Gleason, CEO of the Kentucky Lottery, told the Courier-Journal that a stronger economy has added to their success, because “a better economy means people have more disposable income.”
The Lottery’s chief financial officer, Howard Kline, said sales of $5 and $20 scratch-off tickets were particularly strong this year, helping the Lottery generate more revenue through less tickets.
Overall, scratch-offs made up for $522 million of total sales.
The record sales numbers are good news as the Lottery begins courting bars, bowling alleys, and other retail locations in Kentucky where they can introduce the Lottery’s new Keno game in the fall.
Expected to generate $8 or $9 million in added revenue in the first year, the random-numbers game has come up against opposition from state lawmakers, who say the game may cause gambling problems, especially if it’s played in bars.