Louisiana Lottery's Second-Best Fiscal Year Gives Louisiana a Reason to Smile
Exceeding what the state expected by about $12.2 million, the Louisiana Lottery had no problem fulfilling its mission to maximize revenue for public education with cumulative fiscal year 2009 transfers to the state at their highest level since 1993. The Lottery's fiscal year revenue topped $381.1 million, and it transferred to the state $135.9 million in proceeds, which are earmarked for public education.
"Despite economic uncertainty, our games have maintained popularity because they hold up to their brand promise, giving players a reason to smile for just a dollar," said Lottery President Rose Hudson. "We take the public's trust in our products very seriously and that everyday commitment to integrity is what stands behind our success. I'm proud of the positive contribution the Lottery has made to the state over the past year."
Much of the Lottery's 2009 success can be attributed to scratch-off games sales, which hit a 15-year record. The Lottery offers a wide variety of scratch-off game play styles, themes and price points ranging from $1 to $10. "Players can find a little something for everyone in our scratch-off product line," explained Hudson. "This past year we focused on giving players added value and more bang for their lottery buck, through seasonal promotions and second-chance drawings."
Under state law, the treasury department receives 35 percent of every $1 Lottery sale. At least 50 percent is returned to players in the form of 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.
The Louisiana Lottery ranks first in the nation for percentage of revenue transferred to its government among lotteries with traditional games, according to fiscal year 2008 industry data.
June's treasury transfer of $12,485,915 brought the Lottery's total fiscal year state proceeds to $135,908,240, an increase of about $4 million over 2008.
Since the Lottery began operations in 1991, more than $6 billion in revenue has been generated, primarily from ticket sales, and over $2.1 billion has been transferred to the state treasury. More than $2.9 billion has been paid to prize winners, and retailers have earned approximately $323 million.
Also in 2009 and for the eleventh consecutive year, the Louisiana Lottery received the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the U.S. and Canada.
Lottery ticket purchasers must be at least 21 years of age. The Lottery encourages those concerned about a gambling problem to call toll-free 1-877-770-7867 for assistance.