KY Lottery reports record breaking sales for FY 2016
LOUISVILLE, Ky. (WTVQ) – At a board of directors meeting on Friday, The Kentucky Lottery announced that sales for Fiscal Year 2016 were a record $997.3 million dollars, beating last year’s record of $899.1 million.
The organization says those sales led to record-breaking profits for the Commonwealth. A total of $253 million was earned for the state, breaking last year’s record of $231.1 million. Lottery proceeds in Kentucky are used to fund college scholarship and grant programs.
Scratch-off ticket sales continued to be the best-selling product in the lottery’s portfolio, finishing the year with a record-breaking $597.3 million in sales. Draw game sales closed the year at $399.7 million in sales, which was $60.9 million more than the previous year. Keno showed solid performance, with sales rising to a record $65.9 million. Not surprisingly, the largest percentage increase by game for the full year went to Powerball. This follows the world record-breaking $1.5 billion jackpot run the game saw in January. Sales for this game rose 45.2% from the previous year, finishing at $94.4 million.
According to the Kentucky Higher Education Administration Authority (which administers Lottery-funded college scholarship and grant programs), from 1999 through 2015 the Kentucky Lottery has funded $2,497,431,181 in college scholarship and grant programs for 659,308 students. Since inception, the Lottery has sold $17.4 billion in tickets, earning $4.6 billion for the Commonwealth. Winners have received $10.5 billion in prizes, and retailers have been paid $1.1 billion.