• Home
  • News
    • Politics & Government
    • Business & Economy
    • Crime / Courts
    • Health / Medicine
  • Sports
    • High School Sports
    • Radio Iowa Poll
  • Affiliates
    • Affiliate Support Page
  • Contact Us
    • Reporters

Radio Iowa

Iowa's Radio News Network

You are here: Home / Recreation / Entertainment / Iowa Lottery raises record $68 million

Iowa Lottery raises record $68 million

July 22, 2011 By Dar Danielson

Ioewa Lottery CEO Terry Rich (file photo)

Preliminary figures released today by the Iowa lottery show a record year in sales and profits. Lottery CEO Terry Rich says the core products of lottery raised almost $68-million for the state.

Those profits came on just over $271-million in sales for the fiscal year which ended June 30, and it was the most sales for their core products since the lottery started in 1985. The $68-million turned over to the state was up 17% from last year.

Rich says he believes the lottery does well in a bad economy because it is a local product and he says it’s inexpensive, as “you’re able for a couple of bucks to dream about what might be.” Rich says setting records puts the pressure on to keep getting better.

He says the historic amount they are turning over to the general fund and giving back $10-million more than expected is “a pretty good feeling to know that you’ve done that.” But he says with the tough economic times they need to keep giving players rewards and entertainment, because if they don’t win, they don’t play, and he says that is a delicate balance.

Rich says they also hit a new record for money raised through the sale of the veterans tickets. He says they raised over three million dollars so the tickets have raised over eight million for the Veterans Trust Fund since they began selling them. Rich says people like to give for special causes.

Rich says lottery players took home $159-million in prizes, an increase of 5.6% over last year.

Share this:

  • Facebook
  • Twitter

Filed Under: Recreation / Entertainment Tagged With: Gambling

Featured Stories

Biden calls man quizzing him at town hall ‘a damn liar’

Governor ends public airing of state agency budget requests

Former Manchester hospital CEO given suspended 10-year sentence

After 70 years, southwest Iowa woman files final ‘Up a Country Lane’ column

Sioux City residents can once again own pit bulls

TwitterFacebook
Tweets by RadioIowa

Hawkeyes and Cyclones both face big name bowl opponents

Iowa State’s Campbell agrees to contract extension

Epenesa and Duncan honored by B1G

Iowa’s Nunge sidelined by knee injury

State board proposes changes for sports eligibility, creation of summer dead period

More Sports

eNews and Updates

Enter your email address:

Delivered by FeedBurner

Archives

Copyright © 2019 ยท Learfield News & Ag, LLC