Pennsylvania Lottery Reports Record $1.3B Profit on $5.3B in Sales
Posted on: August 3, 2021, 06:45h.
Last updated on: August 3, 2021, 09:50h.
The Pennsylvania Lottery is fresh off its best year, as the state-managed agency reported a record $1.3 billion in profits.
For the fiscal year that ran July 1, 2020 through June 30, 2021, the Pennsylvania Lottery sold more than $5.3 billion in tickets. The revenue includes sales from traditional scratch-off and draw games, including Mega Millions and Powerball, as well as iLottery.
The lottery kept over $1.3 billion of the sales. It’s the 10th year in a row that Pennsylvania has generated upwards of $1 billion from its lottery.
We are extremely proud that we kept funds flowing to programs that benefit older Pennsylvanians during a year when many sorely needed this assistance,” said Pennsylvania Lottery Executive Director Drew Svitko. “Our team is very passionate about our mission of responsibly generating funds for our commonwealth’s older residents.
“We are hard at work to make sure that we keep this momentum going and build on this success,” Svitko added.
The Pennsylvania Lottery is the only lottery in the country that fully devotes its profits to programs that benefit older residents.
Since its inception in 1972, lottery proceeds have been allocated to various senior programs, including more than $31 billion in property tax relief and rent rebates. The lottery also provides funding for senior transportation services, low-cost prescriptions, meals delivered to senior centers and homes, and long-term care financial assistance.
The Pennsylvania Lottery is one of the largest state lotteries. At $5.3 billion in sales, only New York, Florida, Texas, and California sell more lottery tickets on an annual basis.
iLottery games, Svitko revealed, flourished during the height of the COVID-19 pandemic. With many brick-and-mortar lottery retailers closed, and Pennsylvanians ordered to stay at home and avoid nonessential travel, the PA Lottery’s online platform welcomed in a flurry of new players.
Most of the growth … is from scratch-off tickets,” Svitko explained to the state Senate Appropriations Committee in March, while telling lawmakers to expect record lottery revenue. “iLottery was a tremendous boost to us in the pandemic because it allowed people to play safely.
“We’re a well-diversified business, and we saw that really benefit us in the last year,” the lottery chief added.
Along with reporting a record fiscal year for the lottery, Svitko confirmed today the Powerball news Casino.org relayed in June.
Beginning August 23, Powerball will add a third weekly drawing, which will occur on Mondays. The Monday draw joins Wednesday and Saturday in the weekly schedule.
“This change will help us give our players exactly what they’ve told us they want — larger, faster-growing jackpots,” Svitko stated. “We’re also reminding our players that every ticket sold helps us generate money for the senior programs that older Pennsylvanians rely upon each and every day.”
In Pennsylvania, all other aspects of Powerball will remain the same. Tickets will continue to cost $2, with an optional $1 add-on prize multiplier. The dismal one in 292.2 million chance of winning the jackpot does, too.
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