Wyoming Lottery Corporation officials announced another large quarterly transfer back to the state of more than $1 million.
“Since we began our quarterly transfers, this is the 13th time our transfer has exceeded a million dollars. We are very pleased that we have now given back almost $25 million to Wyoming’s communities, and we only wish it could be more,” said Jon Clontz, Wyoming Lottery Corporation CEO.
Each quarter, per state statute, the Wyoming Lottery Corporation transfers at least 75 percent of its revenue to the Wyoming State Treasurer for distribution to municipalities across Wyoming.
The transfers are then sent directly to Wyoming’s cities, towns and counties, and those municipalities then choose where to appropriate those dollars to best fit their community needs. This quarter’s transfer of $1,059,478 brings the total to $24,757,027.
“We know there are ways to increase our revenue so we can give back more, but we also need to make sure we are being a conscientious and responsible gaming entity for the state. This means finding stable revenue streams that bring entertainment and cultivate responsible gaming, which is why we are so excited to launch Keno next year,” Clontz said.
Next year, the Wyoming Lottery plans to launch Keno state-wide which will include new places to play, since Keno is geared toward social establishments. The Wyoming Lottery currently has over 400 retailers, and with the addition of Keno that number could be closer to 600 or more.
Chairman of the Wyoming Lottery Board of Directors, Jim Willox, said that Keno will add a new type of game for Wyoming residents that accounts for that stable revenue stream and enhances entertainment.
“This is a great addition to our portfolio that will draw in new players and retailers across the state and help create a less volatile income stream. Right now, our sales are driven by jackpot-based games that produce variable quarterly distributions,” Willox said.
Clontz added, “The increase in income means an increase in what we give back to the state, which is our primary mission and focus, and we really want to provide a more reliable amount that the state can count on from the Lottery to bring into Wyoming communities.”
Willox added that the Wyoming Lottery also keys in on the other ways they can give back. “Our most obvious and direct contribution to the state is our quarterly revenue transfers, but we have also paid over $12 million to retailers in commissions and over $87 million to winners,” Willox said.