The Massachusetts Lottery did even better financially last fiscal year than it initially thought and is preparing to make changes that it hopes will revive one of its “legacy” games. Executive Director Mark William Bracken said Tuesday that the final net profit for fiscal year 2023 was roughly $1.194 billion, an increase of $18 million over the pre-audit estimate of…
"While we knew we had a record, we did even better than the record that we thought we had," Bracken said during a Lottery Commission meeting."Great job for the team and for our players."The Massachusetts Lottery did even better financially last fiscal year than it initially thought and is preparing to make changes that it hopes will revive one of its"legacy" games.
On top of setting a record, last year's profit was also enough to beat the projected $1 billion in net profit that Treasurer Deborah Goldberg and Lottery officials told state lawmakers they could expect the Lottery to generate for local aid to cities and towns. Based on that lower projection, the fiscal 2023 budget included $1.231 billion in unrestricted general government aid.Sign up for NECN newsletters.
"We believe that this will be a welcomed change by our player base. The game was a bit stagnant," he said.Hyundai and Kia recall nearly 3.4 million vehicles due to fire risk and urge owners to park outdoors Part of the reason the jackpot is not being hit is that so few people play Megabucks Doubler. With odds of hitting the jackpot at roughly 1 in 14 million, Bracken said the game simply does not have enough players to generate"coverage" of enough possible combinations to increase the likelihood that any given drawing produces a jackpot winner.
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