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MISSOURI LOTTERY PROCEEDS SET RECORD AT $265 MILLION
June 20, 2008
New Mega Scratchers games and strong Club Keno and Powerball sales contributed to record Missouri Lottery proceeds of more than $265 million during fiscal year 2008. The 2008 proceeds are 1.8 percent higher than the previous record of $260.3 million, set in fiscal year 2006 and 2 percent higher than the last fiscal year’s transfers. Today’s final monthly proceeds transfer to public education was $21,322,592, bringing the total proceeds transferred to Missouri’s public education during FY08 to $265,051,179. The June transfer is based on ticket sales in May.
"Sales and proceeds increased this year, but it is getting harder and harder to come up with new ways of growing sales," said Larry Jansen, executive director of the Missouri Lottery. "Scratchers are the main reason we are up, but it really is a combination of game sales increases that helped us exceed our proceeds goal this fiscal year.”
Jansen noted that March was the highest sales month in the Lottery’s 22-year history, topping $96.8 million. That record was attributed to a combination of two factors: higher price-point Scratchers games, including the introduction of the first $20 Scratchers ticket; and strong Powerball sales from the $276 million jackpot on March 15.
“Scratchers sales and Powerball sales individually did not set any records in March,” said Jansen. “However, those two products combined were strong enough to set a monthly record.”
Jansen added that the Lottery is not much different than other businesses that are experiencing sluggish sales.
"Like a lot of businesses that sell their products in grocery and convenience stores, we are competing with higher gas and food prices and a stagnant economy,” Jansen noted. “Our retailers tell us that high gas prices are significantly impacting their in-store sales, including Lottery tickets.
“We are very grateful to our retail partners and our Lottery employees,” Jansen added. “None of this would be possible without their hard work and dedication."
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