(The Center Square) — The Louisiana Lottery Corporation saw a decrease in sales and operating expenses this fiscal year, but it still represented the second-best revenues in its history.
The corporation’s annual financial report published by the Louisiana Legislative Auditor’s Office was for the fiscal year that ended June 30, 2024. The report compared the lottery’s performance with the past two fiscal year.
According to the report, operating revenues in 2024 were $639.6 million, which is the second-highest mark in the 33-year history of the lottery, according to the report. The high point was in 2023 when lottery revenues hit $652.4 million, a $12.8 million difference.
With lower revenues came lower expenses. The corporation spent $437.7 million in 2024 compared to $441.2 million the previous year, a $3.5 million difference. General operating expenses were $1.1 million under budget for 2024.
The Louisiana Lottery is required by law to transfer at least 25% of its revenue to the state. As of fiscal year 2024, the lottery has cumulatively contributed nearly $4.8 billion to the state, amounting to about 35% of its revenue.
Transfers to the state in just 2024 were more than $200 million for only the third time in history. The corporation’s annual required statutory transfers to the state treasury were $204.8 million. This is a decrease of $7.3 million from what they handed over the previous year.
Net position of the lottery was $12.2 million as of June 30, according to the report. The lottery’s cash and investments were $64.4 million by the fiscal year’s end.
Instant scratch-off ticket sales alone accounted for $311 million in sales and instant sales brought in $327 million.
Draw-style sales, which include seven different options like Powerball and Mega Millions, accounted for the other half of the revenue with $312.6 million. In 2023, lottery sales saw similar trends.
