Second Quarter State Transfers From Lottery Sales Remain Strong, Additional $25.9 Million Contributed From Reserves and Unclaimed Prizes

For the second quarter of fiscal year 2016, the Louisiana Lottery Corporation transferred $40.2 million to the state’s coffers, about $1 million more than the second quarter of 2015 and 6.6 percent better than budget. Also, in December per Act 21 of the 2015 Regular Legislative Session, the Lottery contributed $25.9 million to the Lottery Proceeds Fund, which is dedicated for K-12 public education.

 

With second-quarter revenue of $115,018,813 the Lottery contributed $40,256,590 to the state treasury, bringing fiscal year revenue transfers to about $79.1 million. 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 fund 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 nearly $6.5 million for October through December of 2015. 

 

"Half way through our fiscal year, the Lottery continues to thrive in its mission to raise revenue for the state and raise the bar for operational performance," said Lottery President and CEO Rose Hudson. "We are pleased to provide much needed funds for Louisiana while also providing entertaining games for our players."

 

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.

 

More information on the Louisiana Lottery can be found on its website www.louisianalottery.com, on Facebook at www.facebook.com/louisianalottery or on Twitter at www.twitter.com/LALottery.