The Iowa Lottery Board approved a budget Tuesday that calls for a small increase in revenue in the next fiscal year. Lottery C.E.O. Terry Rich says the increase seems right given the economy. He says they’re projecting a one-percent increase in proceeds to the state.
Rich says many lotteries are seeing single and double-digit decreases in proceeds, but he says Iowa has not been hit as hard by the economic troubles as other states. Rich says the increase would build on what was a record year for revenue in the last fiscal year.