(Pierre) - The South Dakota Lottery raised more than $115.5 million in revenue for the state in fiscal year 2004 - a 3.3% increase over the previous year and a new record since the lottery began in 1987.
Clint Harris, executive director of the lottery, said a number of factors contributed to the record revenues. "Four big Powerball jackpot runs, great sales of scratch tickets during the holiday season, and slow steady growth of video lottery revenues were the biggest reasons for our record year," he said.
Lotto ticket sales increased 22.9% overall in FY04, reaching nearly $18.88 million in sales. Sales of lotto tickets raised $4.82 million in revenue in FY04. The first $1.4 million of revenue goes to the state’s general fund, with the balance of $3.42 million going to the state’s capital construction fund. The capital construction fund is used to fund ethanol production incentives, water and environment projects, and state highway projects.
Scratch ticket sales also showed a strong year, increasing 14.9% to reach $15.26 million in FY04. Those sales returned $3.4 million in revenue to the state’s general fund.
Video lottery revenue grew 2.1% in FY04, and generated $107,294,446 for the property tax reduction fund from net machine income, and $30,000 to the state general fund from certain licensing fees.
The Lottery has raised more than $1.2 billion in revenue for the state since it’s inception in 1987.
Multi-State Lottery Association sales comparisons showed that South Dakota had the highest rate of sales increase in FY04 of all participating states in all three multi-state lotto games the Lottery offers.
South Dakota Powerball ticket sales increased 26.8% for FY04 drawings, beating sales increases in all 24 other lotteries that also offered the game for the complete FY03.
While big Powerball jackpot runs helped produce the largest amount of lotto ticket sales, the Lottery also had significant sales increases in the two other multi-state lotto games: Hot Lotto and Wild Card 2.
Hot Lotto ticket sales increased more than 31.2%, beating sales increases for all five other lotteries that offered the game in FY03. Wild Card 2 ticket sales increased 27.8%, beating sales performance for the two other participating lotteries.
"The four big Powerball jackpot runs helped sales greatly, but those big jackpots also call attention to our other games as well," Harris said. "We also had two Wild Card 2 jackpot winners, and our newest game, Hot Lotto, is starting to catch on with players."