Louisiana Lottery Has Third Best Year Ever Despite Revenue Decrease, Contributes Over $159 Million to State Treasury for 2017
The Louisiana Lottery Corporation ended its fiscal year with more than $454.8 million in revenue, making 2017 the Lottery’s third best year ever. Resulting transfers to the state treasury for K-12 public education were more than $159.1 million.Despite having a productive year, revenue was down approximately $53.5 million from fiscal year 2016. The revenue decrease can be attributed to a number of factors, including the economic toll of the decline of the oil and gas industry in south Louisiana, managing prize payouts from a lower unclaimed prize pool, and the sales spike leading up to the record $1.6 billion Powerball jackpot in January 2016. “While we fell short of reaching last year’s half-billion sales mark, 2017 was a great year despite challenges on many fronts,” said Lottery President Rose Hudson. “The bottom line is that our state received much needed funding for K-12 public education as a result of our efforts.”Scratch-offs continue to be the top seller in the Lottery’s game portfolio, ending the year at $206.3 million. Sales of Powerball, the Lottery’s second highest revenue generator, experienced a $41 million decrease in sales from fiscal year 2016 and ended at approximately $85 million for 2017. “The power of record jackpots to swing sales cannot be understated,” Hudson added. In addition to state coffers, local businesses that sell Lottery products also benefited from the Lottery in fiscal year 2017 with total retailer compensation of more than $25.4 million, which includes sales commission, incentives for cashing winning tickets and bonuses for selling winning tickets.Fourth quarter figures for fiscal year 2017 show Lottery revenue totaled $112,656,777 with $39,429,880 being transferred to the state treasury.The Louisiana Lottery ranks second among state lotteries in percent of revenue transferred to its government. In fiscal year 2017, 35 percent of Lottery revenue was transferred to the state treasury and dedicated for K-12 public education. Nearly 53 percent of revenue was allocated to prizes for players. At least 5.5 percent was paid to retailers who sell Lottery games, and less than 6 percent was retained by the Lottery for operating costs.The Lottery's total fiscal-year state transfers were $159,191,670. Since the Lottery began operations in 1991, more than $9.5 billion in revenue has been generated, primarily from ticket sales. More than $3.4 billion has been transferred to the state treasury.Lottery ticket purchasers must be at least 21 years of age. The Lottery encourages anyone with a gambling problem, or friends of anyone with a gambling problem, to call toll-free 1-877-770-7867 for assistance. Recent financial statements and historical treasury transfers can be found on the Lottery’s website, louisianalottery.com.