Home » NACS Reports State Lotteries Are In A Slump, And More…

NACS Reports State Lotteries Are In A Slump, And More…

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Last updated on June 1st, 2015 at 03:25 pm

Convenience Store News In Brief…

The National Association of Convenience Stores (NACS) reports that states throughout the country are facing lower sales of lottery tickets, thanks in part to jackpot fatigue, meaning that states need increasingly bigger jackpots to lure in casual players who buy lottery tickets only when a prize is huge. USA Today cites New Jersey as an example; sales of Mega Millions and Powerball multi-state game tickets were down 30 percent through the end of March in the state. At that pace, according to the newspaper, sales of those games (that make up about 15 percent of all lottery sales in the state) would drop by $130 million this fiscal year. Total lottery sales in 18 states and the District of Columbia decreased in fiscal 2014 compared with fiscal 2013, according to the North American Association of State and Provincial Lotteries, a trade group that represents 52 lotteries across the U.S. and Canada…

Cullen Agricultural Holding Corp. of Waynesboro, Georgia, and Long Island Brand Beverages of Hicksville, New York, a growth-oriented company focused on the ready-to-drink tea segment in the beverage industry, have completed the previously announced merger of their respective companies. The new company is called Long Island Iced Tea Corp.

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