BOSTON (CBS) – Even as casinos open up across the commonwealth, the Massachusetts State Lottery just had its best year ever. The Lottery announced Thursday it made a net profit of $1.104 billion for cities and towns in the last fiscal year.
It’s the highest net profit total for the Lottery in its 48-year history. The previous record was $1.039 billion in 2017.
Overall, the Lottery brought in $5.509 billion, while paying out a record $3.987 billion in prizes. That includes 202 prizes valued at $1 million or more. Lottery retailers earned $314 million in commissions and bonuses.
“Lottery profits provide critical unrestricted aid for all 351 cities and towns in the Commonwealth,” said Treasurer Deb Goldberg, Chair of the Massachusetts State Lottery Commission, in a statement. “I am proud of our Lottery team and our dedicated retail partners. Over the last three years, together, they have produced more than $3 billion that directly supports our local communities.”
The Lottery attributed the increase to “a combination of interest earnings, multi-state game prize settlements and other revenues, including season ticket subscriptions and license renewals.”