Lottery Transfers Over $11.9 Million in December Revenue to the State Treasury
The Louisiana Lottery Corporation announced that over $11.9 million in December revenue has been transferred to the state treasury department, bringing its fiscal year total transfers to $63.2 million.
Overall Lottery sales for the first six months of the fiscal year are within 1 percent of the previous year, which was the Lottery's best year since 1993.
"We are pleased that despite a general downturn in the economy, our fiscal year sales are running about 3 percent better than budget, as we continue to meet our obligation to the state," said Lottery President Rose Hudson.
She noted December revenue of $34 million resulted in $11,907,450 being sent to the state treasury.
"Since the Lottery's inception, we have generated more than $5.8 billion from scratch-off and draw-style game ticket sales, which has resulted in more than $2 billion for the state of Louisiana," she added.
Under state law, the treasury department receives 35 percent of every $1 in Lottery sales, which is earmarked for the Minimum Foundation Program that funds public education in Louisiana. At least 50 percent of sales is used to fund Lottery prizes, and retailers receive at least 5 percent as commission on ticket sales. Less than 10 percent is retained by the Lottery for operating costs.
"In fulfilling our mission of maximizing revenue for the state while upholding the highest level of public trust, the Lottery has not wavered from its core philosophies that have made it successful," said Hudson. "We continue to responsibly offer our games as a fun entertainment option that still costs a dollar. This attention to price-point and value resonates well with our players."
Hudson noted that Lottery ticket purchasers must be at least 21 years of age and encouraged anyone with a gambling problem, or friends of anyone with a gambling problem, to call toll-free 1-877-770-7867 for assistance.