Economic hard times hit Iowa Lottery
8:20 AM
Posted: Wednesday, December 03, 2008
DES MOINES, Iowa (AP) -- The Iowa Lottery is feeling the pinch of economic hard times.
Officials say state lottery sales totaled $77.6 million between July 1 and Oct. 31. That's down 5.6 percent from last year.
Lottery spokeswoman Mary Neubauer says two factors are in play -- the overall economy and lingering troubles from this year's record floods.
Neubauer told the Iowa Lottery Broad on Tuesday that the drop in sales started earlier this year with higher gas prices and natural disasters. She says efforts will continue to develop new lottery games, but officials expect Iowans to make sensible choices with their money.
The Iowa Lottery has generated more than $1.1 billion in profits since its inception in 1985. Last year, it raked in over $57 million in profits used for general government programs.
Officials say state lottery sales totaled $77.6 million between July 1 and Oct. 31. That's down 5.6 percent from last year.
Lottery spokeswoman Mary Neubauer says two factors are in play -- the overall economy and lingering troubles from this year's record floods.
Neubauer told the Iowa Lottery Broad on Tuesday that the drop in sales started earlier this year with higher gas prices and natural disasters. She says efforts will continue to develop new lottery games, but officials expect Iowans to make sensible choices with their money.
The Iowa Lottery has generated more than $1.1 billion in profits since its inception in 1985. Last year, it raked in over $57 million in profits used for general government programs.
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