INDIANAPOLIS (AP) — The Hoosier Lottery is turning over $312 million in profits to the state in a jump of 2% from a year ago.
A report presented to the Indiana Lottery Commission on Tuesday shows that lottery ticket sale revenue grew about 6% to $1.34 billion.
Lottery officials say a record amount is being transferred to the state, but it remains below the original goal of $410 million by 2018 set when the commission hired a private company in 2012 to run most of Indiana’s lottery operations. Lower goals were established in a renegotiated contract, resulting in an $11.2 million bonus payment to IGT Indiana for this past year.
Most of Indiana’s lottery proceeds go toward reducing auto excise taxes and boosting pension funds for teachers, police officers and firefighters.