Fiscal 2014 was a record year for the Kentucky Lottery, but the corporation still failed to meet revenue projections.
The KLC’s Chief Financial Officer Howard Kline testified on Friday (July 11) before the Kentucky Legislature’s Interim Joint Committee on Licensing and Occupations.
Kline says Kentucky Lottery posted sales of nearly 858-million dollars through June 30th and its net income topped 227 million. He says revenues were up two percent from the previous year.
Kline says the Lottery transferred almost 220-million dollars to Kentucky’s General Fund last year. Even so, says Kline, revenues generated by the Kentucky Lottery Corporation fell four-point-five million dollars short of projections for Fiscal 2014.