Lotto OnlineNewsNew Jersey Lottery Achieves $3.73 Billion in Sales, Largest-Ever Contribution to Pension System
The New Jersey Lottery has released its Fiscal Year 2023 (FY23) Audit Report, revealing a remarkable achievement of $3.73 billion in sales. This represents a 2.55% increase compared to the previous fiscal year.
One of the significant outcomes of this surge in sales is the Lottery's largest-ever contribution of $1.17 billion to support New Jersey's public employee pension system. This marks the sixth time that the Lottery's contribution has exceeded one billion dollars.
The sales figures were primarily driven by the popularity of the multistate games Mega Millions and Powerball. Mega Millions experienced an impressive 99.4% increase in sales, reaching $293.7 million. Powerball also saw a substantial growth of 28.1%, with sales totaling $308.6 million.
While scratch-off sales exceeded $2 billion for the third consecutive year, there was a slight decline compared to the previous year. Additionally, Pick-3 and Pick-4, integral components of the Lottery's game portfolio, experienced declines of approximately 7.9% and 8.7%, respectively.
Looking ahead, the New Jersey Lottery is committed to attracting the next generation of players through innovation. The Lottery plans to develop New Jersey-only games to enhance the player experience.
Executive Director James Carey expressed gratitude to the Lottery's retail partners and vendors for their hard work and contribution to the successful year. The report acknowledges that the daily face of the Lottery is represented by retail partners, who played a crucial role in achieving the sales goals.
The largest expense for the Lottery remains the prizes paid to players. In FY23, New Jersey players received a total of $2.23 billion in prizes, including a notable $17.3 million Pick-6 prize. Additionally, Lottery retailers collectively earned $220 million in commissions.
The Lottery's sales and marketing vendor, Northstar NJ Lottery, met its contractual performance targets and received an incentive payment of $28.3 million.
Established in 1970, the New Jersey Lottery operates as a self-supporting state division and has contributed over $32.5 billion to the state's revenue. The Lottery plays a vital role in supporting various programs and services and continues to contribute to the public employee pension system through a 30-year agreement signed into law in 2017.
The New Jersey Lottery's FY23 Audit Report demonstrates its exceptional sales performance and commitment to supporting the state's public employee pension system. With a focus on innovation and the development of New Jersey-only games, the Lottery aims to attract the next generation of players. The report also recognizes the contributions of retail partners and vendors, as well as the significant prizes paid to players and commissions earned by retailers. As a self-supporting state division, the New Jersey Lottery continues to play a crucial role in contributing to the state's revenue and supporting various programs and services.
