Lottery Projections Drop On Declining Sales
by February 20, 2014 3:59 am 90 views
The Arkansas Lottery is seeing a trajectory of lower revenue, and commission members charged with its oversight are searching for turnaround solutions.
John Lyon with our content partner, the Arkansas News Bureau, reports:
The state Lottery Commission on Wednesday adopted a revised budget forecast that lowers projected net proceeds for the current fiscal year from $89.5 million to $82.8 million.
Lottery Director Bishop Woosley said in presenting the revised forecast to the commission that disappointing revenue made the revision necessary.
Scratch-off tickets in particular have seen a decline, he said, telling the panel that scratch-off sales for the first seven months of the fiscal year that began July 1 were down $15.4 million or 8 percent compared to the same period a year earlier.
The lottery also pinned some of its hopes for the year on a raffle game that ended up losing $284,000 instead of turning a profit.
Woosley said he will present specific proposals to the commission. He said ideas that are being looked at include asking the Legislature to let retailers accept debit cards from ticket buyers if they choose, asking the Legislature for permission to offer monitor games and revising the bonding rules for lottery retailers to encourage more businesses to sell lottery tickets.
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