Virginia Lottery posts record profits

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Virginia Lottery posts record profits

The Virginia Lottery turned a record profit for the third consecutive year, topping $400 million for the first time since the lottery's inception 16 years ago, officials announced Wednesday. Sales increased 11.1 percent to a record $1.26 billion, the lottery said. \"In many states, lottery profits have started to tail off,\" Warner said. \"Our lottery, through creative marketing and through hard work, has set another record.\" Warner praised lottery employees for spending only 5.4 percent of its revenue on operating expenses, the lowest percentage in the agency's history.

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