LOTTERY AUDIT: $311 Million In Revenue For 2012

Posted on: 9:16 am, January 18, 2013, by

lottery

A state audit report on the Iowa Lottery Authority shows revenue rose 14.56 percent in 2012 over 2011.

The report says the state brought in $311,068,684 million in total operating revenue in 2012. The higher number is partially due to an increase in popularity of Powerball and Mega Millions.

Powerball saw an increase in revenue of more than $10 million from 2011 and Mega Millions’ revenue rose by about $7 million.

Two segments of the lottery’s products did decrease in revenue for 2012 and they were pull-tabs and Hot Lotto.

Of the Lottery’s revenue, $76,012,455 million was deposited in the State General Fund and $2,719,494 was deposited in the Veteran’s Trust Fund.

More than $6.5 million was spent by the lottery in 2012 on advertising production and media purchases.

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