The Kentucky Lottery released its financials for the year 2021 to date. According to the numbers reported by the Lottery, $1.45 billion in sales was realized during this period, July 2020 and May 2021.
The KY Lottery is looking at improved figures although it’s yet to report the final month’s sales figures. From the Lottery’s financials, sales have already beaten last year’s 2020 numbers when it recorded $1.20 billion.
For 2021’s fiscal year, the sales figures jumped $379.4 million, which is a 35.3% rise from the same duration last year (FY2020). Furthermore, the sales figures were $284 million beyond the Lottery’s budget, 24.3% ahead.
The biggest contributor to the sales numbers is scratch-off tickets, continuing their streak of being the highest driver of sales. These tickets raked $880.6 million at the close of this period, putting these numbers 34.1% leading before the last year-to-date.
Coming in at a distant second was online instant play games. This category raked $105.5 million, with iLottery sales jumping $84.4 million compared to the same duration last year. Pick 3 and scratch-off games take the top two positions in terms of the highest contributor in sales. Instant play games take position 3.
The financial year’s results were announced during the lottery’s board of directors meeting that also outlined the budget for the next financial year (FY2022). According to the budget, the Lottery is aiming to hit $1.59 billion in sales. It also hopes to achieve $339.5 million in income before transferring dividends.
In addition to approving the budget, the board also agreed to a contract with Optimove and Scientific Games. These companies are set to offer customer data and email marketing services among other related products. The board also ratified the changed/new rules for six instant play games, regulations for ten scratch-off games, and the Lottery’s incentive plan for retailers in FY2022.
According to Mark F. Sommer, the board chairman, the board was pleased with the fiscal year’s results as it comes to a close. He termed the record-breaking numbers as remarkable, considering that these are tough times with unique challenges. The board chairman concluded by commending the team’s hard work and effectiveness as well as the lottery retailers for making it possible to reach such numbers.
The numbers don’t really come as a surprise. This was after the Lottery was recently named as the best place to work in Kentucky. The award was announced and presented by the Kentucky Chamber of Commerce and the Kentucky Society for Human Resource Management.
The list of companies competing for the award was released in March. However, the ranked list was announced mid-June as the award marked its 17th anniversary held in Lexington. An employee survey that seeks to understand workplace satisfaction, evaluation of practices, demographics, and policies is used to rank the companies.
The Kentucky Lottery entered the competition as a medium company. These are companies that employ between 150 and 499 employees. The company also made the 2005 list when it was ranked 18th, again in the medium-sized category.