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Michigan Lottery reports record sales, lower profits

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Steve Carmody/Michigan Radio
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(file photo)

LANSING, Mich. (AP) - The Michigan Lottery had record sales in the most recent fiscal year, but profits for schools declined from a year ago.

The lottery on Friday reported nearly $2.5 billion in sales and $734 million in revenue for public schools. It says the contribution to schools was down 5.7 percent from a record-high payment in 2012 because of larger payouts to players.

The bigger prizes primarily helped people who played instant games, the Daily 3 and Daily 4 games, and Powerball. Lottery officials say the record sales were fueled primarily by instant games and Powerball.

Ticket prices for lottery games range from 50 cents to $20. Prizes range from $1 to multimillion jackpots.

About 97 cents of every dollar spent on Lottery games goes to schools, prizes and commissions to retailers.

The Associated Press is an independent global news organization dedicated to factual reporting.