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8/05/2010 - 9:03 AM Lottery Fiscal Year Revenue and State Transfers Remain Strong Exceeding what the state expected by about $6.3 million, the Louisiana Lottery successfully fulfilled its mission to maximize revenue for public education by transferring a cumulative $133.7 million to the state treasury in fiscal year 2010. Total Lottery revenue reached $375.5 million in fiscal year 2010."Even in the face of new economic realities, Lottery tickets continue to be a popular pastime for our players," said Lottery President Rose Hudson. "We take that trust seriously and are committed to continuing to provide players with exciting products that give them added value for their entertainment dollar." Hudson credited the Lottery's success to unique games launched this year, including $1,000,000 RAFFLE, which offered players the best odds of winning a million dollars, and the Lottery's New Orleans Saints-branded scratch-off. Besides being the Lottery's best performing $5 game of all time, the sales index for the Saints game was among the highest of lotteries launching a professional football team branded scratch-off last year. 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 2009 industry data. Fourth quarter 2010 figures indicate Lottery revenue totaled $96,142,444 and resulted in a treasury transfer of $35,899,865. The June transfer included a surplus of $2.25 million, due to operational efficiency. The Lottery's total fiscal year state proceeds were $133,701,775. Retailer commissions for the fourth quarter were $4.9 million, while cumulative commissions for fiscal year 2010 totaled $19.3 million. Since the Lottery began operations in 1991, more than $6.3 billion in revenue has been generated, primarily from ticket sales. More than $2.2 billion has been transferred to the state treasury. Also in 2010 and for the twelfth 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 players who are concerned about a gambling problem to call toll-free 1-877-770-7867 for assistance. More News |
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