UPDATE: The Massachusetts Lottery is set to exceed $1 billion in net profits for the sixth consecutive fiscal year, just announced by state Treasurer Deb Goldberg. This comes as the Lottery reveals it generated $5.96 billion in revenues during fiscal year 2025, translating into $1.067 billion in net profits for cities and towns across the state.
Goldberg addressed the state’s top budget writers earlier today, asserting that the launch of iLottery next summer is expected to boost profits modestly in a market that is starting to stagnate. In fiscal year 2025, the Lottery paid out over $4.4 billion in prizes, achieving a record-setting payout percentage of 74%. Looking ahead, Goldberg remains optimistic, projecting a net profit of $1.050 billion for fiscal 2026, despite challenges posed by “economic headwinds and a competitive marketplace.”
In a separate but equally significant announcement, Spirit Airlines is reportedly in discussions to merge with Frontier Group Holdings. Sources familiar with the situation revealed that a deal could be finalized as soon as this month. The potential merger comes on the heels of Spirit’s recent bankruptcy—its second in less than a year—raising questions about the future of ultra-low-cost carriers amid rising operational costs and stiff competition from larger U.S. airlines.
These discussions are unfolding as Frontier unexpectedly replaced its CEO, Barry Biffle, a move that adds further uncertainty to the talks. Both airlines face pressing challenges that could impact their viability moving forward.
As these developments continue to unfold, the implications for Massachusetts residents and the airline industry will be significant. Stay tuned for updates on these urgent matters.
