Hoosier Lottery reports record revenue

in Lottery

INDIANAPOLIS – The state of Indiana is expected to receive a record $368 million in revenue from the Hoosier Lottery when the fiscal year ends in June.

The news came at Tuesday's State Lottery Commission meeting.

The better-than-expected year also will mean a $19.7 million incentive payment to the private operator of the Hoosier Lottery. Last year, IGT Indiana – which handles most of the daily operations of the lottery – had to pay a penalty of $3.6 million for not meeting minimum income.

“It's a doozy,” said Carrie Stroud, chief of staff for the commission. “It's a great report to give.”

The previous record for revenue sent to state coffers was $312 million in 2019. This year's projection is an 18% increase.

The money is used to reduce state excise taxes for Hoosier drivers and pay down pension obligations for public employees.

Scratch-off tickets continue to power the lottery, which is expected to reach $1.7 billion in revenue before expenses.

Commission President William Zielke said looking back at all the unknowns of the pandemic, it's “a real compliment to the whole team to react to those risks in a positive way to overcome some of those obstacles.”

Melissa Pursley, IGT Indiana's chief operating officer, also unveiled the business plan for fiscal year 2022, which starts in July.

The company has budgeted a slight decrease from this historic year because previously house-bound Hoosiers will have more spending options.

“But our commitment remains the same – to maximize revenue to the state,” she said.

Pursley's estimates still project meeting goals in the contract with a possible $10 million incentive payment.

https://www.journalgazette.net/news/local/20210519/lottery-reports-record-revenue