Pennsylvania Lottery hits new record

The Lottery has hit a new financial record. Credits: MONTCO.Today

The lottery sold a record of more than US$4.2 billion in games during last fiscal year.

US.- The Pennsylvania Lottery announced this week record numbers for the 2017-2018 fiscal year: more than US$4.2 billion were sold in games during the 12 month period, from which was paid a record of more than US$2.7 billion in prizes to winners.

The impressive numbers also helped generate more than US$1 billion to benefit older Pennsylvanians. Traditional game sales totalled US$4,2 billion, up by US$199.5 million year-to-year and breaking the previous sales record of US$4.13 billion from the 2015-16 fiscal year. Net revenue generated for the Lottery Fund also totalled US$1 billion, which represents an increase of US$47.9 million from the previous year.

Lottery Executive Director Drew Svitko said: “We’re proud that this was the seventh consecutive year in which we exceeded $1 billion in proceeds to benefit older adults. I’m grateful for the support of our players, business partners and the entire Lottery team for making this record year possible.”

“It’s important to note that two new products, Keno and iLottery, also contributed to our success, although both were launched toward the end of the fiscal year,” Svitko added. Keno went on sale on May 1st and generated more than US$7.6 million in sales. Moreover, new iLottery online interactive games, which launched May 22nd, were responsible for US$20.8 million in play through June 30th.

“These encouraging results show that our ongoing modernisation efforts are succeeding,” Svitko said. “With the Lottery facing increased competition from sports wagering, mini-casinos and other new forms of gambling, we must continue to work hard to grow revenues to benefit older Pennsylvanians.”