Lottery Second Quarter Transfers Remain Steady
For the second quarter of fiscal year 2017, the Louisiana Lottery Corporation transferred $39.1 million to the state treasury, bringing year-to-date contributions to $78.2 million which is within about $900,000 of 2016."Scratch-off game sales have begun to plateau due to a leveling off of prize payout percentages necessitated by last year's sweep of our unclaimed prize fund by the legislature," noted Lottery President/CEO Rose Hudson. "That reality was compounded by the flood that devastated the greater Capital Region earlier this fiscal year and the prolonged economic effects of low oil and gas prices. Even so, we are diligently managing our games to deliver the play experience our customers have come to expect."With second-quarter revenue of $111,963,212, the Lottery contributed $39,187,130 to the state treasury. By law, at least 35 percent of Lottery proceeds are transferred to the state treasury and dedicated for K-12 public education. Roughly 53 percent of sales funds prizes, and less than 6 percent is used to operate the Lottery.Retailers earn 5.5 percent compensation, including commission, incentives for cashing winning tickets and bonuses for selling winning tickets, totaling over $6.3 million for October through December of 2016.Since its inception in 1991, the Lottery has transferred more than $3.3 billion to the state."We recognize the importance of our mission to responsibly maximize revenue for Louisiana, especially during tough budgetary and economic times for our state," Hudson added.Lottery ticket purchasers must be at least 21 years of age. Anyone with a gambling problem, or friends of anyone with a gambling problem, is encouraged to call toll-free 1-877-770-7867 for assistance. For security purposes, players should sign the back of their tickets after purchasing.