Clicky

Pa. Lottery Reports Record Revenue in 2018-2019 Fiscal Year - PennsylvaniaPoker.com News % : PennsylvaniaPoker.com News
  • 0 views
  • 3 minutes read
Published on
Update on
Author

The Pennsylvania Lottery last week revealed its revenue report for the latest fiscal year. Despite the hurdles and setbacks that it faced in that period, the state lottery still managed to perform very well with the first of online lottery games bringing in a whopping $31.3 million in profits to the state. In total, the Pennsylvania Lottery recorded more than $4.5 billion in ticket sales up until June 30 – this was a neat 7.2 percent increase from the amount that was recorded in the previous fiscal year. Total profits went up $49.6 million to $1.14 billion.

Two-thirds of the just-concluded fiscal year’s sales were accounted for by scratch-off tickets – total sales for this particular vertical rose 6 percent to a record $2.9 billion. Draw ticket sales also saw an increase of 8.7 percent to about $1.4 billion and this was largely attributed to the rise in multi-state draws such as MegaMillions and Powerball.

When it comes to the year-old online lottery games, there was a total of $381 million in sales during their first full year. In addition to the $31.3 million in profits from online lottery games that was mentioned earlier, there were additional profits from monitor games such as Keno and Xpress Sports.

Great News for Pennsylvanians

To begin with, a record $2.9 billion was paid out to winners with 70 people winning at least $1 million in cash prizes during the 2018-2019 fiscal year. However, the people who walked away with the cash prizes are not the only ones that are reaping the fruits of the success of the state lottery. From the total amount that the state received, a whopping $1.14 billion has been allocated to programs that serve the elderly citizens of the Keystone State. This is a $49.6 million increase from the amount that was set aside for the elderly in the previous fiscal year.

“Families across the commonwealth rely on the vital senior programs that are funded by the Pennsylvania Lottery. That is why we are extremely proud to have set a new profit record,” Pennsylvania Lottery Executive Director Drew Svitko stated.

Since it was launched way back in 1972, the Pennsylvania Lottery has contributed over $30 billion to pay for both tax and rent rebates as well as the transportation, prescription assistance, care and meals for the elderly in the state. The latest fiscal year is the eighth consecutive year that the lottery has generated no less than $1 billion for the benefit of the elderly. With online gambling now in full swing and the lottery having cleared most of its hurdles, this should get even better in coming years.

Editor's Picks

PokerStars PA Launches Christmas Calendar

If you’re a player on PokerStars PA, you’re in for a real treat this holiday season. The brand has just launched its Christmas Calendar, which will offer up all sorts of fantastic prizes for real-money players. The promotion will run from now until December 24th, and you don’t have to do anything special to take […]

PartyPoker Offers Huge $1M Bonus In Upcoming MILLIONS

Last year, the end-of-year partypoker MILLIONS offered up some of the biggest prizes ever seen in an online poker tournament. This year, the brand is upping the ante by quite a lot with by giving away millions of dollars’ worth of tickets and offering a special $1 million bonus to the winner. If you manage […]

PokerStars PA Continues to Thrive

It was a long time coming, but online poker is finally live in Pennsylvania – and, it is thriving. PokerStars has been live for nearly a month now in the Keystone State, and has seen tremendous success so far. According to online poker traffic reports, PokerStars PA ranks very highly. For example, its 7 Day […]

Similar PA Casinos Post

FanDuel Boosts Pa. Sports Betting Revenue in August

In August 2019, sports bettor in Pennsylvania placed a whopping $109 million in sports bets, an 84 percent increase from the amount that was wagered in July. According to the revenue report that was released by the Pennsylvania Gaming Control Board (PGCB) the online gambling sector was the biggest contributor to the revenue. In total, […]

Tides Turn for Pennsylvania’s Lady Luck Casino Nemacolin

The Keystone State’s gambling industry has been thriving thanks to a number of new developments in both the retail and online gambling sectors. Even so, not everything has been as rosy as we may hope and one of the issues that the state’s gambling industry has been grappling with has been the declining interest in […]

PGCB Approves Slot Machine Reduction Proposals by Three Operators

The Pennsylvania Gaming Control Board’s August hearing was a very busy one and it saw to a number of significant regulatory actions. Members of the gaming control board tackled some very important issues including the renewal of Stadium Casino’s five-year license for its upcoming Philadelphia casino. At the Harrisburg hearing, the PGCB also announced that […]

24-Hour Online Gambling Is Now Legal in Pennsylvania

The Keystone State’s gambling regulator has recently approved two online casino operators for 24-hour operation following a testing phase that kicked off on July 15. Penn National’s Hollywood Casino and Parx Casino, the two casinos, were given the green light by the Pennsylvania Gaming Control Board (PGCB) after both of them passed the board’s tests. […]