Total operating revenue fell to $882.7m for the 12 months ending 30 June 2020, while gross profit decreased 29% down to $295.4m. Operating income was also down, falling from $396.7m the previous year, down to $281.8m.
Funds transferred to the State’s General Fund decreased by $113.5m down to $283.9m for the year, with the lottery mentioning that its “ability to generate income for transfer to the fund could be adversely affected by competitor gaming activities in neighbouring states.”
Mobile sports betting was offered in the state for the first time during the fiscal year, with sportsbook revenues totalling $200.2m, up 172% from 2019, despite the pandemic causing sports to be suspended in mid-March, and the on-premise sportsbooks at both Twin River Casino Hotels forced closed until July.
That also led to video lottery net revenue decreasing 33% to $352.8m, with all video lottery gaming suspended from March until casinos were allowed to reopen in June.
A statement from the lottery said: “The Lottery’s fiscal year 2020 revenues were materially affected by the global COVID-19 pandemic.
“Closure of the State’s two licensed casinos, many Lottery retailers, restaurants and bars, the cancelling and elimination of professional and college sporting events, and stay at home regulations had a significant impact on revenues for all Lottery lines of business, and have reduced expected revenues in the new fiscal year beginning July 1, 2020.”
