Iowa Lottery C-E-O Terry Rich told members of the Lottery Board at their meeting this week the organization is on pace to break several records as the fiscal year comes to a close.
Rich says they usually look to hit 70 million dollars as a goal for profits to be turned over to the state, and will easily surpass that this year.
Some 220 million dollars will end up being paid out in prizes, while scratch ticket sales are on pace to finish at around 232 million dollars. Rich told the board scratch ticket sales have increased from 143 million dollars in 2010.
The record Powerball jackpot broke monthly records in January and gave a big boost to the fiscal year bottom line. The total monthly sales for January were 54-point-one million dollars — more than 12 million dollars above the previous monthly record set in February 2006.
