Louisiana Lottery Has Third Best Year Ever, Sends $159 Million to State Treasury
There always seems to be a lot of controversy regarding the Louisiana Lottery Corporation and the money that goes or doesn't go towards education. But I'll leave that discussion for another day and just report the facts.
First off, the Lottery announced yesterday that they had their third best year ever with more than $454.8 million in revenue. As a result, more than $159.1 million was transferred to the state treasury for K-12 public education.
“While we fell short of reaching last year’s half-billion sales mark, 2017 was a great year despite challenges on many fronts,” said Lottery President Rose Hudson. “The bottom line is that our state received much-needed funding for K-12 public education as a result of our efforts.”
The Louisiana Lottery ranks second among state lotteries in percent of revenue transferred to its government. In the 2017 fiscal year, 35% of Lottery revenue was transferred to the state treasury and dedicated for K-12 public education.
Nearly 53% of revenue went to prizes for players. Around 5.5% was paid to retailers who sell Lottery games and less than 6% was retained by the Lottery for operating costs.
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