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Vermont Officials Happy with Powerball

17 March 2004

VERMONT – As reported by the Bangor Daily News: "Despite an associated 25 percent decline in Tri-State Megabucks sales since July 1, Vermont lottery officials are satisfied with their decision to join 24 states offering the multimillion Powerball game. Maine has calculated a certain decline in Megabucks sales as well, while still expecting to raise an additional $9.4 million by joining Powerball. The Baldacci administration is counting on the revenue to help cover part of its $160 million supplemental budget.

"Efforts are already under way to make sure Maine is ready to offer the game on July 1 when the new 2005 fiscal year begins.

"Vermont has been a Powerball state since July 1, 2003. Alan R. Yandow, executive director of the Vermont State Lottery Commission, said Monday the new game is expected to meet revenue projections when the fiscal year ends June 30.

"…If those declines remain constant through June 30, Vermont will lose about $1.7 million in Tri-State Megabucks sales for the year. But Yandow said the losses will be offset by the additional revenue produced by the state's share of Powerball profits…"

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