LOUISVILLE, Ky. (Sept. 22, 2017) — Sales results for the first two months of Fiscal Year 18 were announced today in a meeting of the Kentucky Lottery’s board of directors – and the news was good, thanks to a $758 million Powerball jackpot in August.
Year to date sales (covering July and August) were $176 million. This is $11 million (6.7%) more than budgeted and $14.9 million (9.3%) more than the same period last year. Draw game sales accounted for the majority of the increase, jumping 23.6% ($12.4 million) more than budgeted and 15.4% ($8.7 million) more than last year.
Sales of $96 million in just the month of August were the second-highest in the history of the Kentucky Lottery, surpassed only by January 2016 when the world record-breaking Powerball jackpots was rolling.
“The jackpot run helped Powerball sales exceed budget by $9.5 million,” said Kentucky Lottery President and CEO Tom Delacenserie. “With the exception of our Five Card Cash game, every one of our products is selling better that they did at the same time last year. We’re really firing on all cylinders now.”
Income before transfer of dividends for the period was $45.3 million, which is $4.6 million (11.4%) more than budgeted and $2.2 million (5%) more than last year. “Every additional dollar we make helps kids go to college or otherwise further their education,” said Delacenserie.
The results of the audit of lottery finances from FY17 were announced. Auditors from Harding, Shymanski and Company, P.S.C., reported the final numbers for the year were:
- Sales (including instant tickets provided as prizes) $1,000,501,000;
- Operating revenues net of direct costs of $277,492,000;
- Operating expenses of $30,153,000, and;
- Transfers to the Commonwealth of $248,571,000.
These numbers correspond with preliminary figures released by the KLC in July. The audit now goes to the commonwealth’s Auditor of Public Accounts for final approval.
In other business, the board approved:
- A digital space agreement with The Buntin Group as a part of advertising and related services for digital media;
- A lease with Bradley & Spurlock for Prestonsburg regional office space, and;
- Rules and regulations for nine scratch-off tickets, four Instant Play games at different price points, and amended Keno and Mega Millions rules.
The next meeting of the KLC’s board of directors will be December 8. The meeting will begin at 10:00 AM EST, and will be held at the KLC headquarters at 1011 West Main Street in Louisville. The audit committee meeting will begin at 8 a.m., as well as the procurement committee at 9 a.m.