Mass. Lottery profit $42M more than projected

BOSTON – Mass. Treasurer Steven Grossman last week announced that the state lottery’s projected profit for fiscal 2012 has jumped to $936 million following strong sales for the first nine months of the year. More

To continue reading this article, please do one of the following.



the economy

Mass. Lottery profit $42M more than projected

Posted 4/16/12

BOSTON – Mass. Treasurer Steven Grossman last week announced that the state lottery’s projected profit for fiscal 2012 has jumped to $936 million following strong sales for the first nine months of the year.

According to a news release, the new number is $42 million higher than the $894 million on which the state’s fiscal 2012 budget is based.

This month’s Mega Millions drawing offering a $656 million jackpot resulted in a $16.4 million profit. Additionally, winter snowstorms that usually suppress lottery sales during the winter months didn’t materialize, resulting in a higher level of play.

In the release, Grossman also highlighted improved game offerings and the hard work of the lottery’s staff.

“This newly anticipated profit is a result of the innovative approaches that the team at the Massachusetts Lottery has undertaken during the last 14 months,” said Grossman, who serves as lottery chairman. “Solid customer-oriented management, coupled with the profit generated from the last week’s historic Mega Millions jackpot and a mild winter that encouraged people to venture out and play, will result in our being able to deliver even more needed revenue to the commonwealth.” •

No comments on this story | Add your comment
Please log in or register to add your comment
Calendar
PBN Hosted
Events

Only a few seats remain for PBN's Manufacturing Awards Dinner and Ceremony, Thursday, April 24th, at the Bryant University Bello Center. Don't hesitate. Register today!
  • Business Women
    Accomplished. Confident. Wicked Smart. Nominate women you know who deserve speci ...
  • 40 Under Forty
    It's the 10th Anniversary of 40 Under Forty, and PBN is planning a special event ...
  • Healthiest Employers
    Enrollment now open for the 2014 Healthiest Employers Program. Please take a mom ...
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News