Virginia Lottery hits new profit record of $650M

RICHMOND, Va. (AP) — State officials say the Virginia Lottery brought in a record $650 million in profits in the last fiscal year.

Gov. Ralph Northam’s office announced the figures for the fiscal year that ended June 30, saying in a press release Wednesday that sales reached over $2.29 billion.

Lottery profits are used to fund K-12 education programs.

The lottery, which operates on revenue from the sale of lottery products, not tax dollars, says operating expenses were around 5% of total sales.

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