Lottery First Quarter Transfers On Target
“Our fiscal year kicked off with a bang thanks to sizable Powerball and Mega Millions jackpots; however, scratch-off sales took a hit to the tune of about $1 million following the flood that devastated the greater capital area,” noted Lottery President/CEO Rose Hudson. “Most of our 109 retail partners affected by August’s flood are back online, and we continue to help those remaining.”
With first-quarter revenue of $111,561,731, the Lottery contributed $39,046,610 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 nearly $6.2 million for July through September of 2016.
“For over a decade, the Lottery has experienced annual growth, climbing from $307 million in 2005 to $508 million in 2016 – our best year of sales in our 25-year history,” Hudson added. “Especially during these tough budgetary times for our state, we recognize the importance of our mission to responsibly maximize revenue for Louisiana.”
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/about, on Facebook at www.facebook.com/louisianalottery or on Twitter at www.twitter.com/LALottery
