Strong holiday sales lift Lottery’s profit pace

Boston Statehouse

(File/Getty)

BOSTON, Mass. (State House News Service)–The Massachusetts Lottery sold more than $759 million in scratch tickets during this year’s 10-week holiday sales season, a 4.7 percent increase over 2020 holiday sales, and sales of all Lottery products totaled more than $1.12 billion, up 8 percent over 2020 holiday sales.

Lottery Executive Director Michael Sweeney told the Lottery Commission on Tuesday morning that holiday season sales were “very strong” in the 10 weeks between mid-October and Christmas, contributing to a brightening financial picture for the agency that has generally fared well through the pandemic.

November sales of $557.2 million were up about $40 million or 7.7 percent over November 2020 sales, led by a $22.7 million increase in Keno sales and a $6 million decline in scratch ticket grand prize claims last month. Adjusted net profit for the month topped $100 million, up more than $12 million from November 2020.

Now five months into fiscal year 2022, the Lottery has sold more than $2.56 billion worth of its products and has generated an estimated profit of $504.9 million. Officials said “significant increases in Keno sales and jackpot games sales, and a $23.6 million decrease in instant ticket grand prize claims” have put the Lottery roughly $38.5 million ahead of the profit pace set during the record-setting fiscal year 2021.

The Lottery produced a record $1.112 billion in profit in fiscal 2021 for the Legislature to use as local aid to cities and towns despite having to navigate the consumer and economic changes brought upon by the pandemic, Treasurer Deborah Goldberg said last week during the annual hearing on state revenues. The treasurer told state lawmakers and key Baker administration officials that she expects the Massachusetts Lottery will generate about $995 million in revenue for the state this fiscal year and roughly $1 billion in fiscal year 2023. 

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