News - State
Lottery Second Quarter Revenue Up
Posted: Feb 7, 2012 2:32 PM by Release
For the second quarter of fiscal year 2012, the Louisiana Lottery Corporation transferred more than $36.4 million to the state, up 11 percent from 2011 and exceeding budgeted transfers by more than $3.8 million.
With second-quarter revenue of $104,168,181, the Lottery contributed $36,458,860 to the state, bringing total fiscal-year-to-date transfers to $70,468,040. Thirty-five percent of Lottery proceeds are 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.
Lottery President Rose Hudson credited the Lottery's success over the last three months to strong Powerball, Pick 3 and Pick 4 sales, as well as the launch of the multistate game Mega Millions, which offers a starting jackpot of $12 million and unique draw nights of Tuesdays and Fridays. The Lottery's other jackpot games are drawn on Wednesdays and Saturdays.
"With the introduction of Mega Millions to our product portfolio in November, we have given our players more jackpot game choices than ever before. That combined with a huge Powerball jackpot of $254 million the same month helped sales growth last quarter," Hudson noted.
Retailers earn five percent sales commission on Lottery tickets, plus incentives for cashing winning tickets and bonuses for selling winning tickets, totaling about $5.7 million for October through December of 2011.
"It's a good feeling to hit new highs in maximizing revenue for our state, especially when last year was our second best ever," added Hudson. "We're not resting on our laurels, though. Our players like convenience, choice and value so we're planning even more surprises for them this spring when we launch a Bicentennial-themed game as well as a strategic alliance with another beloved Louisiana brand!"
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