4/28/2011 - 11:36 AM
Lottery Third Quarter Revenue Up; Transfers to State Exceed Budget
In the middle of celebrating its twentieth year of operations, the Louisiana Lottery Corporation reported transfers to the state treasury for the third quarter of fiscal year 2011 of $35.8 million, up 8 percent from 2010 and exceeding budget projections by $3.7 million.
With third-quarter revenue of $102,482,611, the Lottery contributed $35,868,920 to the state, which was $2,687,005 more than the third quarter of 2010, bringing total fiscal year-to-date transfers to $100,984,250. Thirty-five percent of Lottery revenue is 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 more than $5.3 million for January through March of 2011.
Lottery President Rose Hudson credited the Lottery's success this fiscal year to an 11 percent increase in scratch-off game sales. Although Powerball sales have taken a hit due to fewer high jackpots, sales for Louisiana's other draw-style games, which include Lotto, Easy 5, Pick 3 and Pick 4, outpaced last year.
"Additional winning experiences have had a positive effect on sales," Hudson explained. "Increased prize payouts combined with player promotions, such as our Saints second-chance drawings and holiday game gift pack giveaways, have provided players even more entertainment value for their Lottery ticket purchases."
In 2011, the Lottery began a year-long celebration of its twentieth anniversary with a public awareness campaign and player-focused initiatives such as Millionaire Bonus Raffle, which launched Feb. 28. With less than 64,000 tickets remaining for sale as of Thursday, the game not only offers the Lottery's best odds to win $1 million during its May 12 finale drawing, but it also featured a series of five preliminary bonus drawings for $20,000 each.
On April 18, the Lottery introduced a T-shirt design contest in which players can enter their original artwork for the chance to win up to $1,500 and the opportunity for their design to appear on the Lottery's commemorative 20th Anniversary T-shirt. Players can receive more information by visiting the contest's website.
"All year we'll be highlighting the Lottery's 20 years of winning numbers, including how much the corporation has contributed to our state monetarily and culturally since its inception in 1991," Hudson noted. "With fiscal year cumulative transfers far exceeding budgeted projections, there's certainly a lot to celebrate."
Lottery ticket purchasers must be at least 21 years of age. The Lottery encourages anyone with a gambling problem, or friends of anyone with a gambling problem, to call toll-free 1-877-770-7867 for assistance. A historical overview of the Lottery's 20 years of operations, including sales and state contributions can be found by clicking here.