Mass. Lottery projects $49 million surplus

BRAINTREE, Mass. – The Mass. State Lottery projects FY 2010 profits will grow to $897.5 million, creating a surplus of more than $49 million for lottery budget appropriations, according to State Treasurer Timothy P. Cahill.
As part of the current year’s budget, the lottery was required to deliver $848 million for various commitments, including local aid to cities and towns, Massachusetts Cultural Council, Massachusetts Arts Fund and compulsive-gambling treatment. The surplus will be available for public services, Cahill said.
“This is great news for local aid and our 351 cities and towns,” said Cahill, who chairs the Mass. State Lottery Commission.
Overall, lottery profits are expected to increase 4.4 percent from $859 million in 2009 to $897.5 million in 2010. Sales in 2010 are expected to surpass $4.4 billion, nearly identical to 2009. Meanwhile, the lottery’s 2010 expenditures are expected to decrease by 14 percent.
The lottery credits its improved profit margins to increased sales in higher-profit games, such as Powerball and Mega Millions. Additionally, sales of sports-themed instant tickets are expected to surpass the $1 billion mark in 2010. •