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Hoosier Lottery operator just misses profit goal

Posted August 19, 2014 1:01 am

Associated Press

INDIANAPOLIS - The Hoosier Lottery director says she's pleased with the performance of the lottery's private management company even though it fell slightly short of the profit goal during its first year.

Lottery officials announced Tuesday that profits came within $1.6 million of the $256 million goal included in the contract that Rhode Island-based GTECH Corp. was awarded in 2012. The lottery says GTECH is paying to make up that shortfall.

Officials say GTECH's lottery management brought in total revenue of $1 billion during fiscal year 2014, up 9 percent from the previous record two years ago. The lottery profit turned over to the state also set a record.

Illinois officials said last week it would end its contract with a GTECH affiliate after it didn't meet state lottery sales goals.

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