NC Lottery Posts Record Revenues
Special Report - July 23, 2010
While North Carolina families and state and local governments have been tightening their belts in response to the struggling economy, the North Carolina Lottery posted a fourth consecutive year of record revenues. In the fiscal year that ended June 30, 2010, the Lottery reported $1.42 billion in ticket salesa nearly 10 percent jump from the previous year, and the highest since the Lottery’s 2006 inception. In a July 19 press release, the Lottery contributes the increase to the launch of the new Mega Millions game, which doubled the number of multi-state jackpot drawings each week, and to a four percent increase in the number of retail locations selling lottery ticketsa total 6,267 locations as of July 1.
The record ticket sales resulted in $419 million being allocated to the various educational programs that receive lottery financing. The state collected $14.5 million in tax revenue off prize winnings. Additionally, a program by which persons attempting to collecting winnings over $600 have their name run through a database of delinquent tax, fee, and child support payments yielded $1 million in debts owed to state and local governments.
“It is no surprise that a down economy correlates with bigger business for the gambling industry,” said Bill Brooks, president of the North Carolina Family Policy Council. “It was an understanding that the lure of ‘hitting it big’ is especially enticing to those who are struggling to make ends meet that led the legislature to clarify and strengthen the state’s ban on video poker this session. With an increased emphasis on bigger and brighter games and prizes, it should be no surprise that the Lottery is the beneficiary of an economic downturn that sees more and more families and individuals struggling to find work and provide for themselves.”
Lottery Revenues Rise With Unemployment - February 2, 2010
NC Lottery Approves "Mega Millions" - November 5, 2009
Economy Down, Lottery Up - July 11, 2009
Lottery Sales Holding Steady - February 19, 2009
Lottery Revenues Up As Economy Slows - September 18, 2008
Copyright © 2010. North Carolina Family Policy Council. All rights reserved.