The New Jersey Lottery has unveiled its Fiscal Year 2023 (FY23) Audit Report, showcasing a record-breaking $3.73 billion in sales. This milestone figure marks a 2.55% increase over the previous fiscal year.
A significant outcome of this surge in sales is the Lottery’s largest-ever contribution of $1.17 billion to support New Jersey’s public employee pension system. This is the sixth time the Lottery’s contribution has surpassed one billion dollars.
Driving the sales figures were the multistate games Mega Millions and Powerball. Mega Millions witnessed a 99.4% increase in sales, reaching $293.7 million, while Powerball recorded sales of $308.6 million, reflecting a 28.1% increase.
Despite scratch-off sales exceeding $2 billion for the third consecutive year, there was a slight decline compared to the previous year. Additionally, Pick-3 and Pick-4, integral components of the Lottery’s game portfolio, experienced declines of approximately 7.9% and 8.7%, respectively.
Looking ahead, the New Jersey Lottery is focusing on innovation to attract the next generation of players, with plans to develop New Jersey-only games.
“We are pleased with the successful year. For players, nothing compares to seeing jackpots reach previously unimagined heights. As always, we do not accomplish this work on our own. Our retail partners are the daily face of the Lottery and they must be applauded for their hard work, as should all our vendors who help us reach our goals,” said Executive Director James Carey.
“While multistate game sales surged this fiscal year, those gains must be kept in perspective with New Jersey-only game sales. We are constantly looking at new ways to improve the Lottery’s games and player experience.”
The Lottery’s largest expense remains the prizes paid to players. In FY23, New Jersey players received a total of $2.23 billion in prizes, with notable wins including a $17.3 million Pick-6 prize, among others.
The report also highlights the vital role played by Lottery retailers, with nearly 7,000 retailers collectively earning $220 million in commissions.
Furthermore, the Lottery’s sales and marketing vendor, Northstar NJ Lottery, met its contractual performance targets, earning an incentive payment of $28.3 million.
Established in 1970, the New Jersey Lottery operates as a self-supporting state division, contributing significantly to the state’s revenue. Over the years, the Lottery has contributed over $32.5 billion to the state, supporting various programs and services. Through a 30-year agreement signed into law in 2017, the Lottery continues to play an important role in contributing to the public employee pension system.
Original article: https://www.yogonet.com/international/noticias/2024/02/14/70815-new-jersey-lottery-sets-37b-sales-record-in-fy23-contributing-12b-to-public-pension-system
