Ticker: Bay State lottery sales down; Tough times for dating app

For the fourth consecutive month, sales were down at the Massachusetts Lottery in May.

Executive Director Mark William Bracken told the Lottery Commission that the agency sold $572.7 million worth of its products last month, a decrease of $3.5 million or 0.6% compared to May 2024. The last month to post a year-over-year sales increase was January.

The only products to post a sales increase in May were Keno, which saw its sales climb by $1.9 million or 1.5% to $125.8 million for the month, and scratch tickets, which were up $1.5 million or 0.4% to total $386.4 million in sales. Together, those two product categories accounted for 89.5% of all Lottery sales last month.

Bracken said the Lottery turned an estimated profit of $117.5 million in May, a $3.2 million increase over last May attributed to a $7.9 million decrease in the value of scratch ticket grand prizes compared to May 2024.

Tough times for dating app

Online dating platform Bumble plans to lay off about 240 employees, roughly 30% of its global workforce.

In a securities filing, Bumble disclosed that its board approved the cuts this week as it “realigns its operating structure to optimize execution on its strategic priorities.” The Austin, Texas-based company expects to see $40 million in annual cost savings from the workforce reductions, much of which it says it will invest in product and technology development.

“These decisions were not made lightly, and we are deeply grateful for the contributions of every employee impacted,” Bumble said in a statement Wednesday — adding that it was now focused on “moving forward in a way that strengthens our core business.”

Shares for Bumble soared more than 23% following the news. Its stock traded at just over $6.40 as of Wednesday afternoon.

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