Massachusetts Lottery full-year revenue hits new record
Profit was down year-on-year.
US.- The Massachusetts State Lottery has reported an estimated $1.16bn in net profit for the 2024 fiscal year ending June 30, 2024. It’s the second-highest total in the Lottery’s history, after $1.19bn in the last fiscal year.
Lottery revenues reached a record $6.17bn, and the lottery paid out an estimated $4.53bn in prizes. An estimated 73.4 per cent of revenue was returned to players.
State Treasurer Deborah B. Goldberg, chair of the Massachusetts State Lottery Commission, said: “I am proud of our team’s performance as we faced mounting challenges in the marketplace. Thank you to our retail partners and our customers for their continued support of our mission. Because of everyone’s efforts, we are able to provide critical local aid to all 351 communities throughout the state.”
See also: Massachusetts casino and sports betting revenue reaches $136.5m in June
Mark William Bracken, executive director of the Massachusetts State Lottery, added: “Thanks to our customers, our employees and our statewide retail partners, we were once again able to deliver over $1bn to our local communities. We appreciate Treasurer Goldberg and our Commissioners for their guidance as we continue to introduce new ways to engage our customers and support our retailers.”
According to the Massachusetts State Lottery, it has generated over $155bn in revenue, awarded over $109bn in prizes and returned over $33bn in net profit for unrestricted local aid since 1972.
Massachusetts authorises online lottery sales
Massachusetts governor Maura Healey has signed the fiscal year 2025 state budget, which includes the legalisation of online lottery sales. Lottery officials anticipate the launch of an online platform in approximately 16 months.
The legislation requires customers to be at least 21 years old. Revenue from online lottery sales will support a grant programme for early childhood education and care.
