In May, the Massachusetts Lottery saw a decline in sales for the fourth consecutive month.
The agency sold $572.7 million worth of its products last month, down $3.5 million or 0.6% from May 2024, according to Executive Director Mark William Bracken, who spoke before the Lottery Commission. January was the last month to report a sales improvement over the previous year.
Keno, whose sales increased by $1.9 million, or 1.5%, to $125.8 million for the month, and scratch tickets, whose sales increased by $1.5 million, or 0.4%, to $386.4 million, were the only items to report a sales rise in May. Last month’s Lottery sales were made up of 89.5% of those two product categories combined.
According to Bracken, a $7.9 million drop in the value of scratch ticket grand prizes compared to May 2024 contributed to the Lottery’s expected $117.5 million profit in May, a $3.2 million rise over the previous May.
An online dating service About 240 workers, or 30% of Bumble’s global workforce, will be let go.
Bumble revealed in a securities filing that the changes were approved by the board this week as the company reorganizes its operations to better execute its strategic priorities. The firm, which is based in Austin, Texas, anticipates saving $40 million a year as a result of the workforce reductions, most of which it plans to use for product and technology development.
According to a statement released by Bumble on Wednesday, “these decisions were not made lightly, and we are deeply grateful for the contributions of every employee impacted.” The company is now focused on moving forward in a way that improves our core business.
After the news, Bumble’s stock shot up more than 23%. As of Wednesday afternoon, the shares was trading at just over $6.40.
