Since the inception of the Hoosier Lottery in 1989, $3.2 billion has been transferred to the State of Indiana.
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updated: 2/11/2008 3:57:47 PM
Hoosier Lottery Announces Near-Record Sales in 2007
The Hoosier Lottery is reporting total sales of $789 million and profit of $216 million for fiscal year 2007. Both amounts are the second highest totals in the organization's history. Hoosier Lottery retailers earned approximately $55 million in commissions.
Source: Inside INdiana Business
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Press Release
Indianapolis, Ind. -- The Hoosier Lottery has released its FY07 (July 1, 2006 - June 30, 2007) Annual Report which focuses on the efforts of the Lottery's staff, new sales strategies and innovation that achieved near-record-breaking results for the organization.
"The Hoosier Lottery achieved total sales of $789 million and profit of $216 million - the second higest total for both in the Lottery's history," said Executive Director Kathryn A. Densborn. "Truly the Hoosier Lottery is one business that benefits all Hoosiers."
The Hoosier Lottery's excellent sales also meant a remarkable year for nearly 4,000 retailers, who earned approximately $55 million in commissions from the sale of Hoosier Lottery products. Hoosier Lottery players also had a banner year. In FY07, Lottery players won over $478 million in prizes - approximately $1.3 million a day to millions of winners.
The Hoosier Lottery made a commitment to innovation and variety in FY07, by introducing four new scratch-off games every three weeks. The Lottery took innovation a step further when they introduced the "2,500,000 Holiday Raffle." The Hoosier Lottery became the first lottery in the country to combine scratch-off and draw-games into one product. The $25 product featured the immediate reward of scratch-off games with the delayed reward of draw-games.
To continue achieving growth from this maturing business, the Hoosier Lottery is investing in strategic planning, research and development, new technology and enhancing its team of industry-leading resources. Through these efforts, the Hoosier Lottery and its products will stay at the top of the list of fun, cool and innovative entertainment choice for Indiana's citizens.
Since the inception of the Hoosier Lottery in 1989, $3.2 billion has been transferred to the State of Indiana. This money is allocated to the Teachers' Retirement Fund, Pension Relief Fund for police officers and fire fighters, and reduces excise taxes for Hoosiers through the Build Indiana Fund.
Source: Hoosier Lottery
