8/18/2006 - 2:31 PM
Lottery Transfers Over $10.1 Million From July Revenues to State
The Louisiana Lottery Corporation announced that it has transferred over $10.1 million from July revenues to the state treasury department.
Total July revenues of over $29 million resulted in $10,153,400 being sent to the state treasury, up 23 percent from July 2005.
Since the Lottery began operations in 1991, over $4.9 billion in revenue has been generated by the Lottery's scratch-off and draw-style game ticket sales and over $1.7 billion has been transferred to the state treasury department.
Under state law, the treasury department receives 35 percent of every $1 sale and proceeds are earmarked for the Minimum Foundation Program that funds public education in Louisiana. At least 50 percent of sales goes to fund prizes and retailers receive at least 5 percent as commission. Less than 10 percent of sales is retained by the Lottery for operating costs.
All Lottery ticket purchasers must be at least 21 years of age. Anyone with a gambling problem, or friends of anyone with a gambling problem, are encouraged to call toll-free 1-877-770-7867.