Pennsylvania Lottery Hits $4.2 Billion In Game Sales

Pennsylvania Lottery Hits $4.2 Billion In Game Sales

The state of Pennsylvania is setting an all-time high in lottery for this year, as recent financial reports note more than $4.2 billion in game sales, as well as $2.7 billion in prize payouts. According to the statistics, the fiscal year will end with more than $1 billion in revenue, generated mostly for the state’s senior benefit plans.

In fact, the year 2018 is seventh in a row in which the lottery has been able to hit $1 billion for senior citizens. Pennsylvania Lottery Director, Drew Svitko, is therefore very proud of the accomplishments from the previous period, and he also thanked for all the support of players and business partners who made it possible.

Breaking Sales Records

The financial report has shown an increase of $199.5 million over the last year’s revenues, easily breaking all previous sales records – including the one from 2015-16 fiscal year. The state generated $4.13 billion in that period, which is the closest amount to this year’s increment.

When compared to a total of $2.7 billion from 2018, the state’s lottery picked up net income of $1,093,645,976 or $47.9 million more than in 2017. However, seniors aren’t the only ones to benefit from the lottery. The retailers have also earned a mighty slack of over $224.1 million during the fiscal year, or $12.7m more than in the previous period.

New Products, Higher Numbers

According to Drew Svitko, the numbers have also increased due to the addition of two new products – Keno and iLottery. Even though the offerings were introduced by the end of the year, both of them managed to generate more than $28.4 million.

Svitko added that the ongoing modernization has shown encouraging results and that sports wagering will not affect the popularity of lottery yet. Thanks to the entire team’s hard work, Pennsylvanians will enjoy the benefits of lottery for a long time, stated Svitko.

Source:

“Lottery sales and prizes in Pennsylvania hit record amounts”, Gibbs Erik, calvinayre.com, August 9, 2018.

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