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Hoosier Lottery Sets Record Revenue, Falls Short Of Goal

The Hoosier Lottery generated $250 million in surplus revenue for Indiana during the 2014 budget year.

hoosier lottery

Photo: Hoosier Lottery

The money from the Hoosier Lottery goes to public employee pension funds and development projects.

The company running the Hoosier Lottery set a record for revenue in their first full year, but it fell just shy of the revenue level it guaranteed the state.

GTECH generated $250 million in surplus revenue for the state for the 2014 budget year. It had promised to generate $256 million.

But Hoosier Lottery executive director Sarah Taylor says that doesn’t worry her. In fact, the company has a new goal $320 million for the current budget year.

“We’re very pleased on how the first year ended, we are looking forward to a long term relationship,” Taylor said.

The money from the Hoosier Lottery goes to police, fire and teacher retirement funds as well as a separate state fund for development projects.

According to the contract, GTECH has to pay a penalty if it does not meet its goals.

Taylor says the company has already paid the state for last year.

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