|Posted:||April 18, 2022 09:38 AM|
|From:||Representative Carrie Lewis DelRosso|
|To:||All House members|
|Subject:||Maximizing the amount of money generated by the Pennsylvania Lottery|
|Please join me as a co-sponsor of legislation to maximize the amount of money generated by the Pennsylvania Lottery for our Commonwealth’s senior citizens.
The General Assembly set the statutorily mandated minimum profit margin for the Pennsylvania Lottery at 20% until June 30, 2024. The profit margin had been incrementally reduced from 30% to the current 20% by Act 23 of 2011, Act 201 of 2014 and Act 97 of 2019.
Under my legislation, the expiration of the required 20% profit margin would be extended by another five years until June 30, 2029.
Although it seems counterintuitive, keeping the minimum profit margin at this level increases the funding for senior programs because it allows the Pennsylvania Lottery to increase overall profits by targeting how much they can sell of certain games, especially high-volume games like scratch-off tickets with high price points.
The Pennsylvania Lottery strategically sets the game payouts at least a year in advance. Extending the expiration of the 20% profit margin now would provide the Lottery with the ability to prepare the future game portfolio to maximize profits.
I look forwarding to working with you on this legislation.
Introduced as HB2538