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.