The Rhode Island Lottery has delivered a hefty $426.4 million check to the state’s General Fund for the fiscal year ending June 30, 2024. But while the payout sounds impressive, it’s a slight drop from the previous year, with the state pocketing $8.2 million less than in 2023. This payout comes after the Lottery accounted for prize awards, commissions, and various gaming expenses.
The latest figures were revealed in a report released by Auditor General David A. Bergantino and the Joint Committee on Legislative Services. Auditors gave the thumbs-up, confirming the numbers are legit and comply with U.S. accounting standards.
While the overall revenue took a hit, the Lottery’s total gross profit from gaming operations before operating expenses hit $436.5 million. But not every corner of Rhode Island’s gambling landscape is rolling high.
Video Lottery Still the King, but Slipping
Video lottery remains the big moneymaker, pulling in $314.9 million—over 72% of the total gross profit. However, video lottery revenue dropped 1.8% compared to the previous year, signaling that even the most popular gaming segment is feeling the squeeze.