Rhode Island Lottery generates nearly $302m net income

Video lottery accounted for more than $209m.
Video lottery accounted for more than $209m.

For the fiscal year ended in June, the lottery generated nearly $18m more than in the previous year.

US.- The Rhode Island Lottery generated nearly $302m for the state’s general fund for the fiscal year that ended in June. The lottery’s net income after payment of prize awards, commissions, and operating expenses was up nearly $18m over the prior year ended June 30, 2020.

However, the fiscal 2021 transfer to the State was less than amounts transferred in fiscal 2019 prior to the pandemic. Two years ago, lottery revenue to the state was more than $397m.

Video lottery accounted for more than $209m in the last financial year, representing 66 per cent of total gross profit, 2.3% more than 2020. Online revenue increased by 16.4 per cent year-on-year and instant ticket revenue by 19.5 per cent.

Net revenue from table games totalled $79.5m. After commissions paid to the facilities and the towns, and related operating expenses, the state’s share of net revenue from table games recorded $12.2m. Sportsbook gross profit was $19.1m, with revenue up 76.3 per cent in fiscal 2021.

In September, Rhode Island reported a record sports wagering handle of $41.2m, 31.6 per cent higher year-on-year.

See also: Rhode Island to consider 20-year contract with IGT and Bally’s casino

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