NJ Lottery Announces Record Contribution in Finalized Annual Report for Fiscal Year 2022
The Lottery has Generated Over $31 Billion in Revenue for the State Since its Inception
TRENTON (March. 2, 2023) – The New Jersey Lottery contributed a record amount to the state’s pension system, according to the finalized Annual Report for Fiscal Year 2022 (FY22) released today. The report is available for review on the Lottery’s website.
For the fiscal year that ended on June 30, 2022, the Lottery generated $3.634 billion in sales and contributed $1.11 billion to the State. Sales were down by 1.3% compared to the fiscal year 2021, when sales were $3.683 billion. The contribution was the largest in its history, exceeding the previous record, set in 2021. The increase in profits can be attributed to a very strong performance by Powerball, which had several huge jackpots, and an increase in unclaimed prizes after the record tickets sales in Fiscal Year 2021.
Lottery contributions support New Jersey’s public employee pension system for teachers, police, firefighters and other public employees. “Fiscal Year 2022 set a record for the Lottery, exceeding the previous record set in Fiscal Year 2021. The contribution increase helps to improve the fiscal health of the State and therefore benefits all residents of New Jersey. Our residents have a variety of entertainment options, but they clearly enjoy playing New Jersey Lottery games.” said Executive Director James A. Carey.
The Lottery’s biggest expense every year is prizes and New Jersey players took home $2.209 billion last year from the draw and Scratch-Off games. During FY22 254 players won more than $100,000, including 59 who received prizes at or above $1 million. That group includes a $9.4 million Pick-6 winner, two grand prizes Cash4Life winners ($7 million each), a $3.8 million Pick-6 winner, five Scratch-Off players who won $3 million, and a $2.8 million Pick-6 winner.
Executive Director Carey thanked the Lottery’s entire network of nearly 7,000 retailers. “Our retailers earned $213 million in commissions last year, an average of over $30,000 per location. Our retailers are the public face of the Lottery and we appreciate their hard work,” Carey added.
Scratch-Offs games remain the core Lottery product with sales of over $2 billion for the second year in a row. After adding a third drawing on Monday nights, Powerball had an amazing year selling $241 million in tickets on the strength of several large jackpots. Pick-6 had a strong year after the game was changed to offer better jackpot odds and add XTRA and Double Play® features to the game. And players were drawn to Fast Play Progressive, as the instant draw game benefitted from large progressive jackpots generating sales of $40.18 million, up 39.3%.
The Lottery’s sales and marketing partner, Northstar NJ Lottery, met the net income targets in its contract with the State and earned an incentive payment for FY22 of $19,314,696. In FY21 Northstar met the net income targets under the contract and was paid $23,373,282 by the Division of the State Lottery. Northstar is also reimbursed for its operating expenses and administers various subcontracts necessary to operate the Lottery.
SOURCE: New Jersey Lottery,Tags: New Jersey Lottery, Financial, Annual Report