Ohio Lottery increases annual profits
The state lottery surpassed the US$1 billion profit mark for the second year in a row, boosts by two games.
US.- The Ohio Lottery reported a US$1 billion profit for the second year, as it was particularly boosted by Keno and EXPlay QuicKeno and their high sales. Ticket sales totaled US$3.05 billion, almost US$60 million less than last fiscal year.
Last year results were an exception as January experienced a US$1l6 billion Powerball jackpot, as Lottery Post reported. Whilst financial details were discussed and presented yesterday, by law all lottery profits must go directly to the Ohio Department of Education’s Lottery Profits Education Fund, which as received US$23.4 billion ever since its inception.
The state entity has been trying to increase its instant- ticket sales, as scratch-off games are the main product and have provided at least half of the Ohio Lottery’s sales. As revealed by officials, instant ticket sales were US$34.4 million lower than 2016’s fiscal to US$1.56 billion. Video lottery terminals (VLTs) revenue was US$310 million, US$19 million more than last year.
Back in December, the state lottery said that it was looking for a bigger assignment in the state budget in order to fund advertising, payroll and jackpot. The lottery also wanted the agents to accept debit and credit cards in order to get more young adults to buy tickets.
