Massachusetts lottery profits down 8 percent

Comment #7

Bleudog101 — Thu, 03 May 2018 16:30:30 GMT

Just saw about their new $30 ticket...The Fastest way to $1 million. 122 winners and second chance adds four more million prizes. WTG Massachusetts State Lottery

Comment #6

maximumfun — Mon, 30 Apr 2018 19:00:31 GMT

Maybe this is their golden number... mayhap Mass has finally hit saturation. There has to be a point where it is just not possible to make anymore profit on this. Sounds like a solid business model with the total profit this year... even if it IS down from projected amounts.

Comment #5

Bleudog101 — Mon, 30 Apr 2018 18:57:37 GMT

Read somewhere that they are #1 in sales.

They were debating allowing folks to buy some tickets on-line and think that reached a dead end. IMO with millennial and newer lottery players that is the way they prefer to play given the option.

Comment #4

Coin Toss — Sun, 29 Apr 2018 14:32:16 GMT

When I see articles like this they make me think that those running the show, despite making $744.3 million profit kvetch about the profit being down 8% are upset about bonuses.

I remember one year GM said they couldn't put anything into employees profit sharing but yet those at the top got very healthy bonuses.

Comment #3

DELotteryPlyr — Sat, 28 Apr 2018 00:33:06 GMT

On top of that it appears that the PLAYERS are getting paid more THIS year than last year, which appears to account for the drop in 'profit'

the percentage of revenue that is returned to gamblers as winnings through nine months is 73.79 percent, compared to a rate of 71.61 percent during the same period in fiscal 2017.

So the real story is 'Massachusetts players winnings up

Comment #2

Coin Toss — Thu, 26 Apr 2018 04:23:14 GMT

From the OP;

The Lottery has turned a profit of roughly $744.3 million since fiscal year 2018 began in July, a drop from the approximately $807.8 million the agency counted as profit through the same time period the previous fiscal year,

Pure corporate greed. They still made $744.3 million profit.

Comment #1

music* — Wed, 25 Apr 2018 16:57:20 GMT

This is surprising news from the Massachusetts Lottery. I believe that this State is number one in lottery sales. They love their lottery!

I would be satisfied with a $968 million annual Lottery profit for this fiscal year. Projected.

Massachusetts lottery profits down 8 percent

Lottery Post — Wed, 25 Apr 2018 12:41:24 GMT

Even with sales up more than 3 percent through nine months of the fiscal year, the Massachusetts Lottery has seen an almost 8 percent drop in profits so far this year, the executive director reported Tuesday.

The Lottery has turned a profit of roughly $744.3 million since fiscal year 2018 began in July, a drop from the approximately $807.8 million the agency counted as profit through the same time period the previous fiscal year, Executive Director Michael Sweeney told the Lottery Commission