First Quarter Sales Of Lottery Core Products Ahead of Budget, Previous Year
DES MOINES, Iowa - The Iowa Lottery's fiscal year is off to a strong start, with sales and proceeds in its first quarter running ahead of budget and the previous year's record results. Iowa Lottery players also are having a banner year, laying claim to a $202.1 million Powerball jackpot and four $1 million prizes in the lottery's games and promotions thus far in fiscal year 2013.
"We're incredibly proud of the success we've achieved and the extra help that means the lottery is providing for the state causes that benefit the citizens of Iowa," Lottery CEO Terry Rich said. "And, it's just incredibly fun to see the run of luck Iowa Lottery players are enjoying. It truly does show that you never know who the next big winner will be."
Preliminary figures show that the lottery generated nearly $18.9 million in proceeds for state causes during its first quarter from July-September, well ahead of budget projections for the year and 7 percent ahead of FY 2012 results for the same time period. Total sales from core products for the period totaled nearly $75.6 million, also ahead of budget and 11.2 percent ahead of the previous year's results.
Both figures have the lottery on pace for another record year and improved results for a third year in a row.
Rich said that while fluctuations must be anticipated in the months to come from unknown stressors that will inevitably crop up, the lottery's strong early start has it well positioned.
Sales of instant-scratch tickets, the first product introduced by the Iowa Lottery and its biggest sales category today, rose more than 4 percent to $43.7 million for the quarter. Powerball® sales, cyclical because they are largely jackpot driven, increased 45 percent for the quarter to $18.1 million. A central Iowa couple recently generated national headlines when they won a $202.1 million Powerball jackpot. Brian and Mary Lohse of Bondurant claimed their big prize Oct. 4.
The lottery's previous financial year saw banner results, with annual lottery sales totaling $310.9 million, a record for combined sales from scratch, lotto and pull-tab games. Proceeds to state causes, at $78.8 million, also were a record, as were prizes to players at $182.4 million.