INDIANAPOLIS – The Hoosier Lottery expects to send a whopping $361.7 million to state coffers, up 4% from last year’s payout but down from a pandemic-era record high.
“As proven across multiple years, we will work hard to maximize revenue returns to the state and support our shared mission,” said IGT Indiana CEO Donald Redic.
IGT Indiana is the contract operator of the Hoosier Lottery, handling product development, marketing, sales, and distribution services.
The lottery expects to make $1.7 billion in sales by the end of the fiscal year, which ends June 30, according to Redic. That is up 1.6% compared to last year.
Scratch-offs made up the bulk of those sales at $1.3 billion, but were down 4% from last year, he said. Draw games, in contrast, were just $436 million in total sales but were up 21%.
After prize claims, lottery retail commissions, and operating expenses, the lottery expects to net $387.5 million, a 5% increase. That amount is above an agreed-upon minimum net income, so IGT Indiana will not pay a penalty intended to make the state whole.
It is also above an incentive net income mark, above which the state and IGT Indiana split extra money. The operator expects to earn a $19.4 million bonus this fiscal year.
Surplus money returned to the state goes toward retirement and pension funds for police, firefighters, and teachers, as well as to lower the motor vehicle excise tax by as much as 50%.
Though gaming officials celebrated the high revenue and sales, they cautioned that three multi-state, billion-dollar jackpots — which boosted revenue — were not stable elements for future budgeting.
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