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Fri October 9, 2009
Lottery Giving Back More Funds
By Tony McVeigh
Frankfort, KY – The Kentucky Lottery is on track to return a greater share of its profits to state government. The current state budget requires a 28-percent return, and Lottery President Arch Gleason says the goal was achieved in the first quarter of the current fiscal year. But there are still three more quarters to go.
"It all depends on where sales come out. Some of the expenses are fixed in nature, so if sales aren't what we expected them to be, we would have a struggle to hit the 28-percent. We believe we'll be within striking distance."
To help meet the goal, Gleason says the lottery's operating expenses have been trimmed by four million dollars through layoffs, salary cuts and reduced spending on advertising.