Hoosier Lottery to buy downtown building for $9.1M
The Hoosier Lottery has leased two floors of the building at 1302 N. Meridian St. since 2011.
The Hoosier Lottery has leased two floors of the building at 1302 N. Meridian St. since 2011.
Although gaming officials celebrated the year’s high revenue and sales, they cautioned that three multi-state, billion-dollar jackpots—which boosted revenue—weren’t stable elements for future budgeting and planning.
The Hoosier Lottery expects to make $1.7 billion in sales by the end of the fiscal year, which ends June 30. That’s up 1.6% compared with last year.
Indiana’s governor is supporting the Hoosier Lottery’s consideration of starting online games or ticket sales while state legislators are looking to have their say on whether those will be allowed.
Indiana lawmakers are looking to block the Hoosier Lottery from starting online games or ticket sales without their permission.
The boost in revenue will result in the lottery sending a record $375 million in profits to the state—up about $71 million, or 23%, from the year before.
Officials told the State Lottery Commission this past week that they projected that scratch-off ticket sales would be up almost 27% for the fiscal year ending June 30 compared with a year ago.
According to a financial report presented to the Hoosier Lottery Commission on Tuesday morning, lottery sales are expected to hit $1.3 billion in fiscal year 2020, which is 1.1% less than budgeted and nearly 3% lower than in fiscal year 2019.
Lottery sales reached $1.34 billion in the latest fiscal year, up from $1.27 billion in the previous year.
The Hoosier Lottery is set to study the move that could let players buy tickets for Powerball, Mega Millions and instant games on their phones.
The Mega Millions jackpot is expected to hit $1.6 billion Tuesday, making it the biggest lottery prize in U.S. history.
This is the first year IGT Indiana has qualified for an incentive payment since it was hired by the lottery in 2012.
Sales of scratch-offs and a reduction in expenses helped offset a dip in sales for big-jackpot tickets.
The new ticket would top a current $30 instant game as Indiana's most expensive.
Two governors tried to fire Northstar Lottery Group. But Northstar—a subsidiary of Gtech Corp., the parent company of Gtech Indiana, which manages the Hoosier Lottery—remains on the job more than two years later.
Even if the Legislature approves the new lottery tickets, it's uncertain when they could be sold. They're not specified in the existing contract with Gtech Indiana, which runs the Hoosier Lottery.
Northstar Lottery Group, which is accused of manipulating scratch-off games in Illinois, is a subsidiary of Gtech Corp., the parent of the company that manages the Hoosier Lottery.
A prosecutor says two brothers accused of conspiring to fix lottery games in five states planted software on a lottery computer in Indiana that would have enabled them to fix more games.
Lottery officials project a $281 million profit during the 2016 budget year that ended June 30 after record sales for scratch-off tickets and draw games because of large Powerball and Mega Millions jackpots.
The Hoosier Lottery is having a banner year, thanks in part to this winter’s record $1.6 billion Powerball jackpot mania and other efforts to better reach Indiana players.