Va. Lottery reports record $5.5B in FY24 sales

Virginia Lottery reported a record-breaking $5.5 billion in sales for fiscal 2024 and highest ever profits of $934 million, Gov. Glenn Youngkin announced Wednesday. 

In fiscal 2023, the state lottery reported $4.6 billion in revenue and $867 million in profits, which set the previous records for the state agency, which opened 36 years ago.

Lottery profits support Virginia’s K-12 public schools, and Youngkin presented a giant check for $934 million to state educators at a turnover announcement Wednesday. About 10% of Virginia’s K-12 education budget comes from Virginia Lottery profits, according to a news release. 

More than 5,300 brick-and-mortar retailers earned more than $142 million in commissions and bonuses over the past fiscal year, which ended June 30, and lottery players won a record $4.2 billion in prizes. For every dollar spent playing Virginia Lottery games, approximately 77 cents went back to players, the release said. 

“The record profits are a byproduct of every lottery employee’s extreme dedication to our mission of contributing to our K-12 public schools one play at a time,” Virginia Lottery Executive Director Khalid Jones said in a statement. “We are pleased that the lottery was able to deliver for the commonwealth once again, and in an even bigger way than ever before.”

Administrative costs took 3.8% of sales. The state auditor of public accounts will certify Virginia Lottery profit figures later this month. They are not official until then.