PROVIDENCE – The R.I. Lottery paid $362.7 million to the state’s General Fund for fiscal 2017, according to the lottery’s audited financial statements, the General Assembly announced Tuesday. Year over year, the Lottery transferred $7.1 million less than it did in fiscal 2016, a 1.9 percent decline. The figure represents the amount of money the lottery netted after the cost of gaming operations (which includes payouts, commissions, incentive programs, advertising and other expenses) and operating expenses.
Total revenue – made up of revenue from online games, instant games, net video lottery terminals, table games and unspecified other income – fell 0.3 percent year over year to $873.6 million. Of gaming revenue, only table games saw an increase from fiscal 2016 to fiscal 2017:
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- Net video lottery revenue – $482.4 million, a year-over-year decline of 1.3 percent
- Online games – $155.7 million, -5.4 percent
- Table games (only at Twin River) – $140.1 million, +11.3 percent
- Instant games – $94.2 million, -2.1 percent
- Other income – $1.2 million, +7 percent
The lottery noted that of the $372.9 million in gross profit for the system, which was arrived at by subtracting the cost of gaming operations from all gaming revenue, 77.5 percent came from video lottery terminals at Twin River and Newport Grand. Operating expenses for the lottery totaled $10.9 million for the year.
PowerBall ticket sales decreased by $6.9 million in fiscal 2017 after an increase in the prior year, which was a result of historic jackpots.
The full audit may be found at the Office of the Auditor General’s website.
Chris Bergenheim is the PBN web editor.
