Sales on the Massachusetts Lottery have been up greater than 20% in February, due largely to a large bump in gross sales of a key product that Lottery officers have been involved about within the final yr.
The Lottery offered $513.3 million price of its merchandise final month, a rise of $88.5 million or 20.8% over February 2022. Scratch tickets accounted for about 71% of February gross sales, or $363.8 million, up $82.3 million or simply greater than 29%, based on a report by Interim Executive Director Mark William Bracken.
The month’s gross sales mixed with a $23.9 million lower in scratch ticket grand prizes paid out throughout the month to assist the Lottery flip a month-to-month revenue of $94.3 million, $23.5 million greater than in February 2022. The Lottery additionally paid out a smaller share of its income in prizes final month, 74.72% in comparison with 76.26% in February 2022.
Treasurer Deborah Goldberg and the Mass. Lottery have been carefully watching scratch ticket and Keno gross sales for months as a result of these two classes account for roughly 85% of all Lottery gross sales. Keno gross sales have been down simply barely in February and are down $3.4 million or 0.4% up to now this fiscal yr.
Through eight months of fiscal 2023, Lottery gross sales of greater than $4.1 billion have been up $109.8 million or 2.7% over the identical interval in fiscal 2022. And the company’s revenue of $808.5 million, which funds native assist, is up $44.2 million in comparison with this time final price range yr.
– Colin A. Young / SHNS
Source: www.bostonherald.com”