Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Financials topic
No spam. Unsubscribe anytime.
Virginia Lottery reports strong iLottery growth, scratchers sales decline
Summary
In its April 22 meeting the Virginia Lottery Board heard quarterly financials showing near-$3 billion iLottery sales to date and total year-to-date sales up about $580 million from last year; scratcher ticket sales are down roughly $70 million year-over-year, while Powerball surged after large jackpots.
The Virginia Lottery Board on April 22 reviewed quarterly results that showed robust growth in internet-based instant games and mixed performance across traditional products.
Executive Director Khalid Jones presented the top-line figures, saying year-to-date total sales are just under $55 billion and that the iLottery instant games program is approaching $3 billion to date, a 22% increase over last year. Jones noted that iLottery has been a major driver of the increase in sales and player acquisition.
Jones and the finance team also flagged weakness in scratcher ticket sales. He said scratchers are down about 7.5% year-to-date—roughly a $70 million shortfall compared with the prior year—and called it a focus area for marketing and product innovation. "Don't put nails in our coffin when it comes to scratchers quite yet," Jones said, noting retail-environment shifts and pilot efforts to reach new retail types.
Powerball sales rose substantially, up about 119% year-over-year after a near-$2 billion jackpot during the fiscal year, while Mega Millions has softened following a price and matrix change that moved the game from $2 to $5. Daily draw games (Pick 3/4/5, Cash 5) also showed gains.
The finance lead reported prize expense moved up 1.9% year-over-year, which is material given multi-billion-dollar sales levels, and that retailer compensation and operating expenses remain within expected ranges. The agency retains profits for the first six months of the fiscal year and then makes monthly transfers to the Department of Accounts.
Board members asked whether sales data could be broken down by locality and by store; Jones said regional and store-level data are available and the team is enhancing systems to deliver more granular reports.
The board did not take separate action on the financial report; the discussion will inform committee-level follow-ups and the next deep-dive presentation from the CFO.
The board is next scheduled to meet July 22 in Danville.
