The Massachusetts Lottery is poised to generate more than $1 billion in net profits for the sixth consecutive fiscal year, and the launch of iLottery next summer will modestly add to an annual haul that is beginning to stagnate.

In fiscal year 2025, the Lottery brought in $5.96 billion in revenues, translating into $1.067 billion in net profits deployed to cities and towns, Treasurer Deb Goldberg told the state’s top budget writers Tuesday.

Fiscal 2025 marked five straight years of net profits in excess of $1 billion. The Lottery paid out more than $4.4 billion in prizes, including a “record-setting prize percentage payout” of 74%, Goldberg said.

Goldberg expressed optimism the Lottery remains on track to turn a net profit of $1.050 billion for fiscal 2026, even as she pointed to “economic headwinds and continuing impacts from the competitive marketplace.”

Spirit Airlines eyes merger with Frontier

Bankrupt Spirit Aviation Holdings Inc. is in discussions to merge with Frontier Group Holdings, people familiar with the matter said.

A transaction could be announced as soon as this month, said the people, who asked not to be identified because the matter is confidential. The discussions are ongoing and could end without a deal taking place, they said.

A merger between the airlines would mark a significant step for Spirit, which filed its second bankruptcy in less than a year in August. It comes as ultra-low-cost carriers struggle with rising costs and fierce competition from larger U.S. airlines.

The discussions are taking place as Frontier abruptly replaced its longtime leader and Chief Executive Officer Barry Biffle.

Representatives for Spirit didn’t immediately respond to a request for comment. Frontier declined to comment.