Kentucky Lottery Sales Still Growing in 3Q FY2022/23
Louisville, KY (May 9, 2023) — Sales remain strong through the 3rd quarter of the fiscal year with a total of $1.387 billion. The significant growth over last year is due in large part to a record Powerball jackpot hit in November 2022 and two near-record Mega Millions jackpots hit in July 2022 and January 2023. Through March, sales for these two games totaled $129.3 million, which is $47.0 million more than the same period last year.
The largest sales growth came from iLottery instant play games, with total sales of $280.1 million. This is a $119.4 million increase over last year. Sales for these games account for the majority of sales in the iLottery channel.
Retail sales continue to account for the largest component of sales, and total payments to Kentucky Lottery’s retail partners were $64.4 million for the first three quarters of the fiscal year which includes $21.8 million in the 3rd quarter.
“Our growth in sales is due to the efforts and dedication of our retailers, players, and sales staff,” said Kentucky Lottery CEO and President Mary Harville. “Our wide array of entertaining games keeps our players engaged and helps drive sales. Those sales further our mission of “fueling imagination and funding education for all Kentuckians.”.
Through the first three quarters of the fiscal year, the KLC has generated $287.9 million in total profits for the Commonwealth. This is $24.4 million more than the previous year.
The sole mission of the Kentucky Lottery is to fund college scholarships for Kentucky students. These programs include the merit-based KEES, as well as the Dual Credit and Work Ready programs and the need-based College Access Program (CAP) and Kentucky Tuition Grants (KTG) which receive approximately 55% of all Lottery proceeds. Since the inception of the lottery, over $6.7 billion has been earned for the Commonwealth. When the Lottery succeeds, so do Kentucky’s college students and their families.
For three consecutive years, the KLC has been recognized as a Best Places to Work in Kentucky and was named the #1 best place to work for medium size employers in 2021.
More information on the Kentucky Lottery, including financial data, can be found at http://www.kylottery.com
SOURCE: Kentucky Lottery Corporation.Tags: Kentucky Lottery Corporation, Lottery Sales 3Q FY2022/23