Halfway Through Fiscal Year, Lottery Transfer to State Up 6 Percent
For the second quarter of fiscal year 2014, the Louisiana Lottery Corporation transferred more than $39.4 million to the state's coffers, bringing cumulative transfers for the year to over $80.1 million, which exceeds last year's transfer to date by $4.6 million.
With second-quarter revenue of $112,775,997, the Lottery contributed $39,471,600 to the state treasury. By law, 35 percent of Lottery proceeds are transferred to the state treasury and dedicated for K-12 public education. No other lottery jurisdiction in the U.S. contributes a greater percentage of revenue to its government.
Retailers earn five percent sales commission on Lottery tickets, plus incentives for cashing winning tickets and bonuses for selling winning tickets, totaling nearly $6.3 million for October to December of 2013.
Lottery President Rose Hudson credited the Lottery's recent success to a Mega Millions jackpot that exceeded $600 million in December as well as solid scratch-offs sales.
"Lottery scratch-off sales are running 13 percent higher than last year thanks to perfecting our inventory management program," noted Hudson. "These improvements in our the operational efficiencies, exciting new game designs and strong relationships with our retailer partners has helped put the Lottery in the position of outpacing last year, which was our second most successful."
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.