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Indiana Lottery Posts Revenue Gains Under Private Management

Under a renegotiated private management contract, IGT expects to avoid paying a performance penalty to the Hoosier Lottery for the third consecutive year, the company informed Indiana lottery officials during its annual presentation.

While revenue figures for the full fiscal year 2016 will not be released until early July, IGT officials told the Hoosier Lottery Tuesday that the lottery is expected to generate $280.7m in net income.

The State Lottery Commission of Indiana entered into a 15-year management services contract with IGT in October 2012, but that contract was amended in June 2015 subject to an $18m payment on the part of the private manager.

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