Updated August 31 at 6:31pm

Massachusetts lottery expecting 2012 to be record-breaking year

BOSTON – Treasurer Steven Grossman said that the Mass. State Lottery’s projected profit for 2012 has increased to $947 million following strong sales for the first 10 months of the fiscal year, positioning the lottery to surpass the past record of $951 million in profit set in 2006.

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Massachusetts lottery expecting 2012 to be record-breaking year

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BOSTON – Treasurer Steven Grossman said that the Mass. State Lottery’s projected profit for 2012 has increased to $947 million following strong sales for the first 10 months of the fiscal year, positioning the lottery to surpass the past record of $951 million in profit set in 2006.

The new figure, based on game sales to date and budget-projection estimates, is $53 million higher than the $894 million on which the state’s fiscal 2012 budget is based.

“There is no doubt in my mind that the lottery is going to have a record-setting year in terms of profit – we’re on an irreversible track,” said Grossman, who as treasurer serves as the lottery chairman.

In a news release, Grossman noted that sales in fiscal year 2012 are a full $250 million higher than at this point in fiscal 2011. Reasons for the increase he cited included customer-oriented management and an “innovative approach” toward promotions, as well as adjustments to several existing games and a host of new offerings. •

27~06, 051412 R.I. & MASS. NEWS BRIEFS, economy, economic indicators, government, Mass. State Lottery, 27~06, issue051412export.pbn

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