BOSTON (WWLP) – The Massachusetts Lottery has hit a record 50-year high with an estimated $1.105 billion in net profit during the 2021 fiscal year (July 1, 2020 through June 30, 2021), passing the previous
record of $1.104 billion set in the 2019 fiscal year.
The COVID-19 pandemic impacted sales in FY2020, with the Lottery showing a net profit totaling $986.9 million, with total revenues of $5.258 billion.
“Despite the pandemic, this year the Lottery experienced record setting sales,” said State Treasurer Deborah B. Goldberg, Chair of the Massachusetts State Lottery Commission. “Thanks to our lottery team, retail partners and particularly our customers, we will again be able to deliver critical resources to every community in the state.”
The Lottery set another record by paying out an estimated $4.283 billion in prizes in FY 2021, surpassing the previous high of $3.987 billion in FY 2019. Lottery players won 208 prizes valued at $1 million or more, including 38 prizes valued at $2 million or more.
Retailers selling Lottery tickets earned an estimated $333.3 million in commissions and bonuses in FY 2021, also a record besting the 2019 numbers. Despite the closing of restaurants and bars, Keno hit a record high in sales with $1.057 billion in total sales. Instant ticket sales exceeded $4 billion for the first time, a 10.5% increase from FY2020.
22News spoke with Naimish Patel, owner of Southampton Liquors, whose business has been selling lottery tickets since 2004. He said the store always get plenty of people through their doors daily to purchase tickets.
Patel also noted the revenue from lottery and liquor sales always helps business, especially during the pandemic.
“It helps a lot, not just liquor stores, but also convenient stores, gas stations… people want to go to places where it’s all in one place,” he said.
The Lottery’s administrative costs were less than two percent of overall revenues. The final audit and financial report is expected to be completed in September.