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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe Hoosier Lottery says it is turning over 16 percent more in profit to state government than a year ago.
Lottery officials project a $281 million profit during the 2016 budget year that ended June 30 after record sales for scratch-off tickets and draw games because of large Powerball and Mega Millions jackpots.
IBJ reported June 25 that the lottery was on pace for a record return to the state.
The profit will allow the lottery's private management company to avoid a penalty for a third straight year. IGT Indiana missed both its 2014 and 2015 minimum income targets, so last year the Hoosier Lottery Commission restructured the contract and lowered the $365 million penalty-triggering minimum to $270 million.
The state uses the profit for teacher and public-safety pension funds and reduced auto excise taxes.
Lottery ticket sales totaled $1.2 billion.
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