ARC Makes New Appointments to Senior Management Team

Mike Dunleavy, the Governor of Alaska, has proposed and introduced legislation (Senate Bill 188 or SB 188), which would create a new state-run lottery corporation. It would allow the introduction of state-run lottery draws and scratch-offs, as well as participation in some multi-state lotteries.

“In the face of low state revenues, my administration has been actively seeking new revenue sources to diversify our economy. Not only does this legislation have the potential of creating new business opportunities, the profits generated from lottery activities will be designated to K-12 education, domestic violence prevention programs, drug abuse prevention programs, foster care, and homelessness,” Mike Dunleavy said.

When comparing Alaska with Vermont, the population of Alaska is around 731,000 and Vermont has about 624,000 residents, 107,000 fewer. The fiscal year 2018 saw lottery revenue of $132.41 million, of which $27.1 million went to the state’s Education Fund, according to Vermont State and players took home $87.4 million. Around $8.1 million was paid to employees and Just $3.02 million was for administrative costs.

Based on the above return, Dunleavy’s estimates from the lottery and sports gambling of between $5 million and $10 million each year seem to be actually low. The number could go much higher with the additional approval of electronic lottery terminals sought by SB 188, and would facilitate lottery and sports gambling activity “through the use of any media, including electronic terminals, computers, and the internet.”

Related