 |
|
10/22/2025
|
Auditor General issues audit report for Rhode Island Lottery for the fiscal year ended June 30, 2025
|
STATE HOUSE – The Rhode Island Lottery paid $433.6 million to the state’s General Fund for the year ended June 30, 2025, representing the Lottery’s net income after payment of prize awards, commissions, other costs of gaming operations and operating expenses. Overall, Lottery revenue, including gaming activity at the Lottery’s two casinos, experienced an increase during fiscal 2025 compared to 2024. The fiscal 2025 transfer to the state increased $7.2 million over the previous fiscal year.
The Lottery’s financial statements for the fiscal year ended June 30, 2025, and the Independent Auditor’s Report thereon are included in a report issued by Auditor General David A. Bergantino and released today by the Joint Committee on Legislative Services. The auditors concluded that the Lottery’s financial statements were fairly presented in accordance with accounting principles generally accepted in the United States of America.
The Lottery’s gross profit from gaming operations before operating expenses totaled $443.2 million for the fiscal year ended June 30, 2025. Video lottery accounted for $313.6 million or 70.8% of total gross profit. Net video lottery revenue decreased by approximately 0.6% compared to the prior year.
Online games gross profit totaled $43.7 million, a decrease of 16.1% from fiscal 2024. This decrease was largely attributable to significantly fewer large jackpot drawings (advertised drawings in excess of $1 billion) for PowerBall® and Mega Millions® in fiscal 2025 as compared to fiscal 2024. Overall sales of online lottery games, which also includes monitor games, Keno and Bingo, declined by $21.7 million in fiscal 2025 over the prior year. Gross profit on instant ticket games revenue totaled $22.5 million in fiscal 2025, an increase of 0.4% over fiscal 2024.
Net revenue from table games totaled $127.2 million for the year ended June 30, 2025. Gross profit from table games amounted to $19.7 million, a decrease of 2.9% over fiscal 2024.
Sportsbook gross profit totaled $18.6 million, after commissions, payouts and marketing expenses, a decrease of $608,000 or 3.2% over the previous fiscal year, as sports betting competition in nearby states continued to increase.
iGaming generated $20.8 million in gross profit in its first complete year of operations during fiscal year 2025.
The audited financial statements for the Rhode Island Lottery and related audit summary are available at the Office of the Auditor General’s website:
Rhode Island Lottery Audited Financial Statements – Rhode Island Lottery Audited Financial Statements - Fiscal Year 2025
Rhode Island Lottery Audit Summary – Rhode Island Lottery Audit Summary - Fiscal Year 2025
For more information, contact:
David Bergantino, CPA, CFE, Auditor General
Office of the Auditor General
Providence, RI 02903
(401) 222-2435, x3020
|
|