LOUISVILLE, Ky. (AP) - The Kentucky Lottery says its sales and profits are up in the first half of the fiscal year, but contributions to the state for the full year are expected to fall short of expectations.
The lottery is a vital revenue source for Kentucky higher education, especially college scholarships.
From July through December of last year, lottery sales totaled $396 million. That's up nearly $17 million from the previous year. Lottery President and CEO Arch Gleason said Friday that sales for the entire fiscal year, which ends June 30, are projected to reach $800 million to $808 million.
The lottery predicts it will transfer $200 million to $202 million to the state for the full year.
Despite that, lottery proceeds to the state could fall $5.5 million to $7.5 million short of expectation.
(Copyright 2009 by The Associated Press. All Rights Reserved.)