First Quarter Lottery Transfers Exceeding Budget

BATON ROUGE – For the first quarter of fiscal year 2019, the Louisiana Lottery Corporation transferred more than $40 million to the state treasury, down $3.3 million from the first quarter of 2018, but exceeding budgeted transfers by over $2 million.
 

“The Lottery team recognizes the importance of its mission to maximize revenue for Louisiana and is diligently working to ensure that the goals we’ve set for the rest of the fiscal year are met,” said Lottery President Rose Hudson. “We are pleased that we were able to beat projected transfers this quarter and look forward to an even better second quarter, thanks to the recent chart-topping jackpots.” 
 

With first-quarter revenue of $116,408,941, the Lottery contributed $40,743,130 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. Nearly 53.7 percent of sales funds prizes, and less than 6 percent is used to operate the Lottery. Since the Lottery began operations in 1991, more than $10.1 billion in revenue has been generated. More than $3.6 billion has been transferred to the state treasury.
 

Retailers earn 5.6 percent compensation, including commission, incentives for cashing winning tickets and bonuses for selling winning tickets, totaling more than $6.5 million for July through September of 2018. 
 

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.