BOSTON (SHNS) – Sales at the Massachusetts Lottery were up more than 20 percent in February, due in large part to a sizable bump in sales of a key product that Lottery officials have been concerned about in the last year.
The Lottery sold $513.3 million worth of its products last month, an increase of $88.5 million or 20.8 percent over February 2022. Scratch tickets accounted for about 71 percent of February sales, or $363.8 million, up $82.3 million or just more than 29 percent, according to a report that Interim Executive Director Mark William Bracken planned to give Tuesday morning at a meeting of the Lottery Commission.
The month’s sales combined with a $23.9 million decrease in scratch ticket grand prizes paid out during the month to help the Lottery turn a monthly profit of $94.3 million, $23.5 million more than in February 2022. The Lottery also paid out a smaller percentage of its revenue in prizes last month, 74.72 percent compared to 76.26 percent in February 2022.
Treasurer Deborah Goldberg and the Mass. Lottery have been closely watching scratch ticket and Keno sales for months because those two categories account for roughly 85 percent of all Lottery sales. Keno sales were down just slightly in February and are down $3.4 million or 0.4 percent so far this fiscal year.
Through eight months of fiscal 2023, Lottery sales of more than $4.1 billion were up $109.8 million or 2.7 percent over the same period in fiscal 2022. And the agency’s profit of $808.5 million, which funds local aid, is up $44.2 million compared to this time last budget year.