La. Lottery reports robust third quarter revenue for state
BATON ROUGE, LA — For the third quarter of fiscal year 2014, the Louisiana Lottery Corporation transferred $40.9 million to the state, bringing total fiscal year-to-date contributions to $121.1 million, which is 5 percent over 2013 and exceeds budgeted transfers by more than $15.6 million.
With third-quarter revenue of $117,054,569, Lottery state proceeds reached $40,969,100. By law, 35 percent of Lottery revenue is transferred to the state treasury and dedicated for K-12 public education.
Lottery President Rose Hudson credited the Lottery's success over the last three months to more big jackpot runs, including Powerball's $425.3 million jackpot for the Feb. 19 drawing and Mega Millions' $400 million jackpot on March 18. Lotto sales were also up, driven by a rolling jackpot that began in December as well as the Lotto Lagniappe promotion that began in March. Scratch-off sales continued to be popular with double-digit increases over 2013.
"Big jackpots are still heavy hitters when it comes to producing an immediate up-tick in sales," said Hudson, "but the steady star in our performance has been our scratch-off games, which are player favorites day-in and day-out. Technology enhancements made over the last year to ensure the right games are delivered to the right retailers at the right time have really paid off."
Retailers earn five percent sales commission on Lottery tickets, plus incentives for cashing winning tickets and bonuses for selling winning tickets, totaling more than $6.4 million for January through March of 2014.
Lottery ticket purchasers must be at least 21 years of age. Anyone with a gambling problem, or friends of anyone with a gambling problem, is encouraged to call toll-free 1-877-770-7867 for assistance. For security purposes, players should sign the back of their tickets after purchasing.