Massachusetts ended September announcing the second highest net profit in its state lottery’s 52-year history. The Bay State’s win is apparently the Ocean State’s loss.
A new report by the Rhode Island Office of the Auditor General shows that the Rhode Island Lottery transferred $426.4 million to the General Fund in the fiscal year ending June 30, 2024 — down $8.2 million or 1.8% compared to fiscal 2023.
The Auditor General’s annual report, released three days after Massachusetts’ record announcement, cites increased competition from neighboring states as the reason for the decline.
“In the overall scheme of things, that’s not a large percentage,” Patrick Kelly, a professor of accountancy at Providence College who studies gambling, said in an interview Friday.
