Home Local News IOWA LOTTERY SALES SLOW WITH ECONOMY

IOWA LOTTERY SALES SLOW WITH ECONOMY

280
SHARE

IOWA LOTTERY SALES ARE OFF TO A SLOW START IN THE NEW FISCAL YEAR AFTER SETTING A SALES RECORD THE PREVIOUS YEAR.

LOTTERY C-E-O MATT STRAWN GAVE THE LOTTERY COMMISSION AN UPDATE DURING THEIR MEETING TUESDAY.

SALES1 OC………LAST YEAR” :12

STRAWN SAYS LOTTERY PROCEEDS TO THE STATE THROUGH AUGUST ARE DOWN AROUND 48 PERCENT FROM THE SAME POINT LAST YEAR.

HE HAD WARNED AT THE END OF THE LAST FISCAL YEAR THAT MAINTAINING THE RECORD SALES WOULD BE TOUGH DUE TO NATIONAL ECONOMIC CONDITIONS AND SOFT SALES IN NATIONAL LOTTO GAMES.

STRAWN CITED POWERBALL SALES AS AN EXAMPLE OF HOW LOTTO GAMES HAVE IMPACTED THE NEW FISCAL YEAR.

SALES2 OC………….DOWN 64-POINT-OH-EIGHT PERCENT” :19

STRAWN SAYS NATIONAL POWERBALL SALES TRENDS ARE DOWN A NEARLY IDENTICAL AMOUNT.

HE SAYS JACKPOTS ARE HARD TO PREDICT AND ONCE THEY GET GOING THEY BRING IN A LOT OF PEOPLE WHO ARE NOT REGULAR PLAYERS.

STRAWN SAYS THE NATIONAL ECONOMY HAS AN IMPACT ON SALES, AND THAT INCLUDES CHANGES IN INTEREST RATES THAT IMPACT THE ANNUITY OR JACKPOT AMOUNT.

SALES3 OC……..TO ADDITIONAL SALES” :10

STRAWN SAYS THE ISSUES THEY ARE FACING WERE FACTORED IN AS THEY PREPARED THE BUDGET FOR THIS FISCAL YEAR, AND THAT HAS HELPED THEM STAY CLOSE TO THEIR PROJECTIONS.

SALES4 OC…….OUR BUDGET PROJECTIONS” :22

HE SAYS SALES ARE UNLIKELY TO REACH THE RECORD HEIGHTS OF RECENT YEARS, BUT THE ADJUSTMENTS THEY MADE IN THIS YEAR’S BUDGET AND CONTINUED DIVERSITY OF PRODUCTS WILL HELP THEM DEAL WITH THE DROP.

RADIO IOWA