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MARYLAND LOTTERY REVENUES SHOW INCREASE IN FIRST HALF OF FISCAL 1992

 MARYLAND LOTTERY REVENUES SHOW INCREASE IN FIRST HALF OF FISCAL 1992
 BALTIMORE, Jan. 22 /PRNewswire/ -- Maryland Lottery officials announced today that revenues for the first six months of fiscal year 1992 (July 1991-December 1991) were up 8.16 percent in comparison with the same time for fiscal year 1991.
 "This increase ($12,393,319) is realized as net revenue to be contributed to the state's General Fund, which means it will benefit all the citizens of Maryland," said William F. Rochford, director of the gaming agency. Revenue contributions in F.Y. '92 for the first six months were $164,268,873 compared to $151,852,019 for the same period in F.Y. '91. "There has been a popular misconception that state lotteries thrive during economic downturns. Dramatic downturns in many lotteries across the nation have shown us that as a competitor for discretionary income, we need to work hard just to maintain sales. We are quite pleased with the results posted so far this year," Rochford continued.
 In an effort to help offset the state's deficit, the Maryland Lottery has cut approximately $1.4 million from its fiscal 1992 budget. "By working with the administration, the Maryland Lottery has already reduced its budget to the level that will allow us to still increase sales. Any further reductions could have an effect on our ability to increase sales in the future," Rochford explained.
 The Maryland Lottery was able to increase revenues and maintain sales during early fiscal year 1992 through the introduction of the highly successful Match 5, as well as the judicious use of inventive promotions and creative Agent Incentive Programs. For example, a recent Agent Incentive Program involved the awarding of Oriole Skybox Tickets. This program sold more than 5.6 million Scratch-Off tickets in just two weeks, while costing the lottery only $142,000. "The Oriole Skybox tickets represent a unique, cost-efficient way of rewarding our agents for their outstanding sales performance. What better way to thank those agents who helped to build the new stadium, than to afford them the opportunity to enjoy it firsthand," said Rochford.
 Since its inception in 1972, the lottery has contributed more than $3.5 billion to the state's General Fund.
 -0- 1/22/92
 /CONTACT: Carroll H. Hynson Jr. of the Maryland State Lottery, 410-764-5730/ CO: Maryland State Lottery Agency ST: Maryland IN: SU: ERN


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Date:Jan 22, 1992
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