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Keith Griffee elected to fourth term as chairman of Ky. Lottery board

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 LOUISVILLE - February lottery sales in Kentucky were $66.9 million, which is $4.9 million higher than the same period in the previous year but $825,000 less than budgeted. 

That information was recently released by the  Kentucky Lottery Corporation’s (KLC’s) board of directors.

Sales for the fiscal year-to-date are now $505.5 million, which is $5.6 million less than the previous year and $18.8 million less than budgeted. Income before transfer of dividends in February was $18.7 million, or $2 million more than the previous year and $81,000 more than budgeted. For the fiscal year-to-date, income before transfer of dividends is $137.3 million, which is $2.7 million less than the previous year and $3.8 million less than budgeted.

“After sluggish sales for several months during the fiscal year, we’ve hopefully started a positive trend in February,” said KLC President and CEO Arch Gleason. “While we’re still concerned with both rising gas prices and high unemployment, last month we were ahead of sales from the previous year. That’s moving in the direction we need to be going.”

 

Current sales are being helped by interest in the KLC’s two most profitable games, Mega Millions and Powerball. The current (3/25) Mega Millions jackpot is $312 million, and the 3/26 Powerball jackpot stands at $125 million. “While we don’t see the level of sales we enjoyed in the past with a $312 million jackpot, increased sales of these multi-state games definitely helps,” said KLC Sr. VP of Finance & Administration and CFO Howard Kline.

The board also re-elected Keith Griffee to his fourth term as chairman. Griffee is a banker with Porter Bancorp, Inc. and a resident of Mount Washington. 

Lexington resident Woodford Webb was re-elected to his second term as the board’s vice chairman. Webb is an attorney and serves as president of The Webb Companies, a Lexington, KY, based commercial real estate development, management and leasing firm.

Griffee was recently reappointed to the board by Governor Steve Beshear. 

Two new board members have also been appointed by the governor - Ted Richardson, an engineer and developer from Kenton County, and David Ingordo, a Fayette County bloodstock agent.

In other business, the board approved contracts with:

*Delehanty Consulting for third party audit services;

* Blue and Company for draw audit and related services;

* Gaming Laboratory International for lottery ball calibrations, random number generator certifications and related services, and;

*Smartplay International for drawing machine maintenance and drawing ball sets.

The board also approved rules and regulations for 16 scratch-off tickets and one online game.

The next meeting of the KLC’s board of directors will be Friday, June 3. The meeting will begin at 9:30 a.m.  and will be held at the KLC headquarters at 1011 West Main Street in Louisville. Committee meetings will begin at 8:30 a.m.

The Kentucky Lottery has earned more than $3.4 billion for the Commonwealth since 1989.  KLC dividends pay for college scholarships, grants and literacy programs. Visit www.kheaa.com to find out more about grants and scholarships paid for by the KLC.