Updated August 3 at 8:03pm

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.

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the economy

Mass. Lottery profit $42M more than projected

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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.” •

27~02, 041612 R.I. & MASS. NEWS BRIEFS, the economy, Mass. Treasurer Steven Grossman, Mass. State Lottery, 27~02, issue041612export.pbn

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