Pennsylvania Lottery Sets New Sales Record, But Profits Are Flat
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By Tony Romeo
HARRISBURG, Pa. (CBS) - The Pennsylvania Lottery once again set records for sales and profits in the fiscal year that just ended. While sales growth was strong, profits were essentially flat.
The sales figures might seem to undercut Governor Corbett’s desire to privatize management of the Pennsylvania Lottery. But the profit numbers are a different story. Sales were up more than six-percent — almost $219-million. However, profits were up by just a fraction of that amount – only $6-million.
“Player preference continues to lean toward the higher payout instant games. Instant games are taking over a larger chunk of our portfolio,” Revenue Department spokeswoman Elizabeth Brassell.
So while sales were up almost $219 million, lottery payouts in the last fiscal year were up by $197 million.
The state attorney general refused to approve the first contract negotiated by the Corbett administration for a private lottery manager. Brassell says the administration is still considering a possible revised proposal.