Annual Report for Fiscal Year 2017
The call at the beginning of FY17 was simple – let’s “Bring Home A Billion.” We’re pleased to report the Kentucky Lottery did just that, closing out the year with $1,000,501,000 in sales. This marks the 19th year out of the past 24 that we've broken sales records.
Scratch-off ticket sales continued to be the best-selling product in the lottery’s portfolio, finishing the year with a record-breaking $603.8 million in sales. This is $6.5 million (1.1%) more than the previous year, and the first time in KLC history that this category has exceeded $600 million in annual sales.
Changes to our Keno product helped the game grow at a faster percentage rate than any other KLC product for the year. Sales of Keno were $75.7 million, a $9.8 million (15%) increase over the previous fiscal year.
Draw game sales closed the year slightly down at $315.7 million, an $18 million (5.4%) decline from the previous year. The primary factor here was Powerball. Without anything even remotely close to the $1.6 billion Powerball jackpot seen in January 2016, Powerball sales dropped 23.6%. Despite the $22.3 million decline in sales for just this game, the fact that we broke not only our all-time sales record but also the billion-dollar threshold is remarkable.
The overall record sales in FY17 also led to record prizes paid to players of $628.8 million.
Our board of directors has approved an aggressive budget for FY18, with a sales goal of $1.03 billion. Through new ideas from our new president and CEO and hard work yet again from our staff, we’re up to the challenge – students in Kentucky are counting on us.