The private company that operates the Hoosier Lottery says it topped $1 billion in sales during Fiscal Year 2014. GTECH Indiana LLC says the total reflects an overall 7 percent year-over-year sales increase.
July 1, 2014
Indianapolis, Ind. — Hoosier Lottery officials today announced the Lottery has exceeded $1 billion in sales in a 12-month period, the highest in the Lottery's 25-year history. The milestone surpasses the previous sales record of $934 million in fiscal year 2013.
The $1 billion mark is reflected in an overall 7 percent year-over-year sales increase. The Hoosier Lottery's performance surge is among the best in the United States, where average sales increases are 2.9 percent, based on data collected by the North American Association of State and Provincial Lotteries.
As a result of the solid fiscal performance, the State of Indiana will receive the largest contribution ever from the Hoosier Lottery, with more than $248 million in surplus revenue returning to Hoosiers for the Lottery's fiscal year 2014 via the Build Indiana Fund and existing pension and retirement funds established for Indiana teachers, firefighters and local police officers.
“The Hoosier Lottery experienced a remarkable year, and our record contribution to the State of Indiana underscores our commitment to maximizing revenue in a socially responsible way,” said Sarah Taylor, Hoosier Lottery Executive Director. “We now have two consecutive years of record surplus revenue to the State, and that's a win for everyone.”
Hoosier Lottery distributions benefit every county throughout Indiana. Each fiscal year, the Hoosier Lottery contributes $30 million to local police and firefighters' pensions and $30 million to the Teacher's Retirement Fund. Hoosier Lottery earnings help reduce motor vehicle excise tax by 50 percent.
Since its inception in 1989, the Hoosier Lottery has transferred more than $4.5 billion to the State of Indiana for good causes. During that same period, Hoosiers won over $9.9 billion in prizes and retailers earned more than $1.1 billion on commissions.
In October 2012, the State Lottery Commission of Indiana approved a recommendation to commence contract negotiations with GTECH Corporation for outsourced services in the areas of marketing, sales and distribution. Today, GTECH Indiana, LLC, a wholly-owned subsidiary of Rhode Island-based GTECH Corporation, is working on behalf of the Hoosier Lottery. For the Lottery's fiscal year 2014, GTECH Indiana committed $256 million to the Hoosier Lottery and projected $1.056 billion in total sales.
“We are excited about surpassing the $1 billion sales mark, and we are committed to fulfilling our obligation to the State of Indiana,” said Colin Hadden, GTECH Indiana Chief Operating Officer and General Manager.
A number of factors contributed to the $1 billion in sales. “The record would not have been possible without our retail partners and those who play the Lottery,” said Taylor. “We thank them for their enthusiasm and support.”
To learn more about the Hoosier Lottery, visit www.hoosierlottery.com and follow on Facebook and Twitter.
Source: Hoosier Lottery