INDIANAPOLIS – The Hoosier Lottery projects it will deliver more than $368 million in surplus revenue to the state of Indiana, an increase from last year. That is 10%, or $32 million, more than the lottery originally budgeted.
“Fiscal year 2024 was another outstanding year in performance and operation. It showed us that we remain healthy and that the Hoosier Lottery continues to be well-positioned for success,” said Donald Redic, who spoke on behalf of the lottery’s contract operator, IGT Indiana. The company handles product development, marketing, sales, and distribution services.
The lottery expects to have earned an eye-popping $1.7 billion in revenue by July, the end of its fiscal year. It will have paid out $1.1 billion in prize expenses, according to the preliminary and unaudited data.
And, because the lottery surpassed its financial goals, it’s expected to pay IGT Indiana an incentive payment of $20 million. If it had come up short, the performance-based contract would have required the operator to hand over a shortfall payment.
Read the entire Leslie Bonilla Muñiz story for the Indiana Capital Chronicle, here.
