Pa. Lottery posts record year in 2011-12
The Pennsylvania Lottery in 2011-12 had the most successful year in its more than 40-year history and generated in excess of $1 billion for programs benefiting older Pennsylvanians, according to a news release.
Sales in the recently completed fiscal year were a record $3.48 billion, up 8.5 percent compared with the previous period, the release stated.
The numbers come as the state has embarked on a process to consider whether to bring in a private management firm as a way to best leverage the asset.
The lottery’s administrative costs decreased in the fiscal year from 2.3 percent of total sales to 2.1 percent with a new contract with the independent drawing auditor, reductions in printing costs and fleet management changes, according to the release.