State general fund received $381.9M from R.I. Lottery in FY15

PROVIDENCE – The state’s general fund received $381.9 million from the R.I. Lottery in fiscal 2015, an increase of $5.6 million compared with the previous year, according to the lottery’s audited financial statements.
The amount represents the lottery’s profit after payment of prizes, commissions and operating expenses.
The report, issued by Auditor General Dennis E. Hoyle, was released last week by the Joint Committee on Legislative Services. Total revenue was $866 million, the report stated.
The lottery’s gross profit from gaming operations before operating expenses totaled $392 million in fiscal 2015. The lottery’s operating expenses totaled approximately $10.3 million for the year ended June 30.
Video lottery accounted for $312.3 million, or 79.7 percent of total gross profit, the report said.
Net video lottery revenue increased approximately 1.8 percent to $516.3 million compared with the prior year. Online revenue decreased 3.9 percent to $152.6 million, and instant ticket revenue increased 7.8 percent to $90.5 million compared with prior-year amounts. Instant ticket revenue was boosted by new games offering five and 10 times the prize money on its $1, $2, $5 and $10 tickets. The lottery also improved the features and number of plays on its holiday $10 ticket, the report stated.

Net revenue from Twin River table games totaled $106.6 million, an increase of 21 percent, representing the second full year of table game operations. After commissions paid to Twin River and the town of Lincoln, the state’s share of net revenue from table games amounted to $17.1 million, the report said.

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