Montana Lottery Financial Statements (Unaudited) June 30, 1988
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PRIOR PERIOD ADJUSTMENTS The prior period adjustments of $69,900 and $67,809 for the quarter ended June 30, 1988, and the year ended June 30, 1988, respectively reflect expense activity from the previous year recorded m the current period. Of these adjustments, $69,700 relates to a ticket rebate. The remaining adjustments reflect travel and other miscellaneous expenses. 4 . GAMES Currently, the Montana Lottery games are instant ticket games. These games provide players the opportunity to win in...stantly by scratching a ticket's latex covering to reveal a prize. Players also have another chance to win by submitting five non-winning tickets for the Big Spin drawing. 5. PAID PRIZES Section 23-5-1027 MCA states "as near as possible to 45% of the money paid for tickets or chances must be paid as prize money". For the quarter ended June 30, 1988, the prize expense of $1,619,690 reflects 44.30% of net ticket revenues totaling $3,655,854. From April 1, 1988 through June 30, 1988 prizes paid are detailed as follows: High-tier $ 369,784 Low-tier 761,806 Big Spin 125,000 $1,256,590 High-tier prizes reflect prizes greater than $25 paid through Lottery headquarters.
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