RD265 - 2018 Virginia Lottery Annual Financial Report for Year Ended June 30, 2018

Executive Summary:

Virginia Lottery ticket sales totaled $2,139.8 million for fiscal year 2018, the highest total ever for Virginia Lottery sales. Net proceeds totaling $606.2 million were earned for the Lottery Proceeds Fund, all of which are constitutionally mandated to support local public education. Highlights of the fiscal year include:

• Sales decreased by $149.9 million (7.5 percent) from last year to $2,139.8 million.

• Net income was $606.2 million, a increase of $47.9 million.

• Prize expense increased $93.4 million (7.7 percent) to a record total of $1,307.7 million.

• With the sales increase, retailers earned $9.3 million (8.3 percent) more than last year, with compensation paid to retailers totaling $121.3 million. Retailers earned, on average, 5.7 cents on each dollar sold, slightly higher than last year.