New York State Lottery post record revenues

Lotto

The state’s traditional lottery and video lottery gaming operations became the first in the nation to top the $10 billion mark in combined sales and “net win,” which is the earnings after winners are paid.

The New York Lottery, the “largest and most profitable” in the country, recorded $8.2 billion in sales for the state fiscal year that ended March 31, 2019, the New York Gaming Commission announced in a news release this week. That includes sales from Powerball, Jackpot, Mega Millions, Scratch Off, Quick Draw and other games, plus revenues generated by the state’s licensed video lottery locations. That made the New York Lottery the 7th most profitable in the world, the release said.

The video lottery net win for the 2018-2019 fiscal year was $2.08 billion, third largest in the world behind two Italian lottery operators.

The combined sales and net win earnings for the last fiscal year are a new record for the New York Lottery.

The New York Lottery generated $3.47 billion in aid designated to support the state’s schools. That’s $102 million more than in 2017-2018 and is also a new record.

The lottery revenues are distributed to school districts according to the same formula used for state aid: It takes into account a combination of each district’s size and income levels: A larger, poorer district will receive a higher percentage than a smaller, more affluent one. Lottery contributions account for 13 percent of all state aid to education for 2018-2019.

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