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Wed July 29, 2009
KY Lottery Officials Progressing Toward Mandated Financial Goals
By Tony McVeigh
Frankfort, KY – The Kentucky Lottery has a goal of returning 35-percent of proceeds to the state, but has never achieved the goal. Now, the state is mandating at least a 28-percent return, which lottery President Arch Gleason is optimistic will be achieved this fiscal year. However, he says it's requiring some restructuring, including the elimination of 28 lottery jobs. "We reduced the workforces in the offices. I think about 10 or 15 people were reduced out of the sales organization. The rest came from the organization in the headquarters."
Since its creation in 1989, the lottery has seen total sales of almost 12-billion dollars. Of that, three billion went to the state, and seven billion, or 60-percent, went to lottery winners. The rest went for retailers' commissions and operating expenses.