Lottery Kicks off 25th Anniversary Year With Incredible Third Quarter State Transfer

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.

 

Retailers earn 5.5 percent compensation, including commission, incentives for cashing winning tickets and bonuses for selling winning tickets, totaling more than $9 million for January through March of 2016.

 

"The state is the sole beneficiary of Lottery proceeds, receiving more than $3.1 billion since our inception in 1991. As the Louisiana Lottery celebrates its 25th year of operations in 2016, we are proud of this long history of contributions and are pleased to be doing our part to make our state a better place to live, work and play," Hudson added. "We look forward to many more."

 

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’s anniversary and history can be found on its website www.louisianalottery.com/25th-anniversary, on Facebook or on Twitter.