STATE ISLAND, NY - Video gaming casinos, traditional lottery sales and Mega Millions contributed to a record profit of nearly $2.9 billion for the New York Lottery for the fiscal year ending March 31, Staten Island Live reports. The Lottery said that it is the 12th consecutive year of record sales and earnings.
Revenue for the period totaled $8.44 billion, an increase of $571.3 million, or 7.3%, over the prior year. Profits increased $234.1 million or 8.8% over the prior year.
The recent Mega Millions world-record jackpot of $656 million led to $67.4 million in profit for the state, while the state€™s video gaming business generated $697.1 million in profit, also a record.
Meanwhile, revenue from traditional lottery games including Powerball, Mega Millions, daily Numbers and scratch-off games, increased 3.8 %, to $7 billion.
Lottery prizes totaled more than $4.1 billion in traditional games. Nearly 17,000 lottery retailers and nine video gaming facilities received commissions totaling more than $1 billion.
For more on the importance of lottery sales and commissions to a retailer€™s bottom line €" and how it€™s being jeopardized €" read the April issue cover story of NACS Magazine, "Lose Big!"