PROVIDENCE, R.I. (AP) – The Rhode Island Lottery transferred almost $382 million to the general fund during the latest fiscal year, $5.6 million more than the prior year.
Auditor General Dennis Hoyle says the amount paid to the general fund represents the Lottery’s net income after payment of prizes, commissions and operating expenses.
The Lottery’s gross profit from gambling operations before operating expenses totaled $392 million for the fiscal year that ended June 30. Video lottery accounted for $312.3 million, or almost 80 percent, of total gross profit.
Net video lottery revenue increased approximately 1.8 percent compared with the prior year. Online revenue decreased 3.9 percent and instant ticket revenue increased 7.8 percent. The Lottery’s operating expenses totaled approximately $10.3 million for the year.
Copyright 2015 The Associated Press.
