Indiana Lottery earns a profit despite decrease in sales

INDIANAPOLIS (AP) — Financial results show that the Indiana lottery’s private operator still generated income for the state despite revenue dipping slightly.

The (Northwest Indiana) Times reports that financial results presented to the State Lottery Commission show residents spent $1.2 billion on lottery tickets during 2017’s budget year. That’s a decrease of nearly $7 million from 2016.

However, a reduction in game and provider expenses has led lottery operator IGT Indiana to produce nearly $294 million in net income. The state will receive almost $290 million of the funds, an increase of nearly $8 million when compared to last year.

The report says scratch-off ticket sales accounted for 75 percent of lottery revenue.

The state uses lottery profits to fund an annual vehicle excise tax credit, state building projects and support teacher, police and firefighter pensions.

 

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