New Jersey Lottery Announces Financial Results for Fiscal Year 2022
TRENTON (July 21, 2022) – The New Jersey Lottery Commission held its July Commission meeting today and announced its unaudited results for the Fiscal Year 2022 (FY22) that ended on June 30. Sales for the year totaled $3.634 billion, the second highest in Lottery history, following FY21, which had $3.683 billion in sales.
As of June 30, 2022, the Lottery has contributed $1.074 billion in profits to the State for FY22 to support the public employee pension system. The contribution to the State is expected to increase when the Lottery’s FY22 financial audit is completed later this year. Over the course of the past five years, the Lottery has averaged contributions of over $1 billion annually to the State.
Executive Director James A. Carey, Jr., stated, “I’m happy with the Lottery’s achievements this year. As always, our partners and retailers have worked hard, adjusting to all changes when presented. I thank our players for their continued loyalty and engagement. And I also thank our incredible team for being dedicated and dependable through unexpected seasons, while also maintaining the integrity of the games,” said Carey.
Sales of Scratch-Off games exceeded $2 billion for the second year in a row. The diverse Scratch-Off portfolio provides ticket offerings for every budget. A player favorite was the new $5 Big Spin ticket, which allows grand prize winners to attend an in-person event where they spin a big mechanical wheel to determine their grand prize amount.
The almost 7,000 New Jersey Lottery retailers, largely comprised of small businesses, took in commissions and bonuses over $210.45 million in FY22.
“As the public face of the Lottery, their contribution is vital to the continued success of the Lottery,” added Carey.
While sales were down slightly compared to last year, several games saw an uptick due to recent changes. Pick-6 with Double Play® had sales of $62.82 million and benefited from game changes which boosted sales by 11%. Powerball added a third drawing each week, boosting sales this year to $241 million, a 37.5% increase over the previous year.
The biggest winners are always the players who took home over $2.205 billion from the Lottery’s draw and Scratch-Off games. 254 players won more than $100,000, including 45 who won $1 million or more. That group includes a $9.4 million Pick-6 winner, two grand prize Cash4Life winners ($7 million each), a $3.8 million Pick-6 winner, five Scratch-Off players who won $3 million, a $2.8 million Pick-6 winner, and four $2 million winners from Powerball, Mega Millions and the New Year’s Raffle.
The Lottery’s sales and marketing vendor, Northstar New Jersey Lottery Group, met the performance targets that are used to calculate an incentive payment. The calculation of the incentive payment will not be finalized until the Lottery’s financial audit is completed.
The Lottery is the State’s fifth largest revenue producer benefiting the residents of New Jersey. Since its inception in 1970, the Lottery has contributed over $31 billion to the State, helping to support many worthwhile programs and services. Lottery profits currently help bolster the public employee pension system for teachers, police, fire personnel and other public employees under a 30-year agreement signed into law in 2017.
SOURCE: The New Jersey Lottery.Tags: New Jersey Lottery, Jr., unaudited results for the Fiscal Year 2022, Sales for the year totaled $3.634 billion, James A. Carey, public employee pension system