For the third quarter of fiscal year 2016, the Louisiana Lottery Corporation transferred $58.1 million to the state’s coffers, nearly $13 million more than the third quarter of 2015 and a whopping 54 percent better than budget, thanks to a world-record $1.58 billion Powerball jackpot in January.
"What a start to our 25th anniversary year!" noted Lottery President Rose Hudson. "January 2016 will go down in Lottery history as our best sales month ever – it is mind-blowing what that jackpot has meant to our sales and more importantly our transfers to Louisiana K-12 public education, especially when the state's need for additional revenue is so immediate."
With third-quarter revenue of $166,176,845 the Lottery contributed $58,161,905 to the state treasury, bringing fiscal year revenue transfers to about $137.3 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.