BATON ROUGE, La. (AP) — The Louisiana Lottery Corporation brought in more money than expected in the last budget year and transferred $160 million to the state treasury to pay for education programs.

The lottery reported Monday that it took in more than $447 million from players for the fiscal year that ended June 30. Its payment to the state was the second highest annual transfer to the treasury since the lottery began operations in 1991.

"This is what happens when you take two record Powerball jackpots and combine them with scratch-off sales that are running $30 million higher than they were just five years ago," Lottery President Rose Hudson said in a statement.

Under Louisiana law, 35 percent of the money generated by the lottery goes to the state treasury, dedicated to public elementary and secondary education.

Other dollars go to retailers that sell tickets, and at least half of the lottery's revenue pays for prizes for players.

Lottery officials say less than 10 percent of the money pays for their office operating costs.

Since it began 12 years ago, the lottery has brought in more than $7.6 billion, mostly from ticket sales. Of that, more than $2.7 billion was transferred to the state treasury.

To post a comment, please log into your IND account. If you do not have an account, click the "register" button to create one. Facebook comments can be used as an alternative to creating an account at theIND.com.

feed-image RSS Feed
Loading
Chart
ABiz Stock Watch
o Home Bancorp 22.34 ▲0.26 (1.18%)
o Frank's International 20.15 ▲0.17 (0.85%)
o IberiaBank Corp 65.25 ▲0.60 (0.93%)
o LHC Group 25.74 ▲0.25 (0.98%)
o MidSouth Bancorp 19.11 ▲0.06 (0.31%)
o Petroquest Energy 6.66 ▲0.25 (3.90%)
o PHI Inc. 41.52 ▲1.02 (2.52%)
o Superior Energy 35.84 ▲0.20 (0.56%)
o Stone Energy 35.19 ▲0.86 (2.51%)
o Facebook Inc. 74.82 ▲0.96 (1.31%)
o Twitter Inc. 49.75 ▲0.32 (0.65%)
o Gannett 33.76 ▲0.01 (0.03%)
NYSE:HBCP

Home Bancorp

Company ID [NYSE:HBCP] Last trade:22.34 Trade time:4:00PM EDT Value change:▲0.26 (1.18%)
NYSE:FI

Frank's International

Company ID [NYSE:FI] Last trade:20.15 Trade time:4:03PM EDT Value change:▲0.17 (0.85%)
NYSE:IBKC

IberiaBank Corp

Company ID [NYSE:IBKC] Last trade:65.25 Trade time:4:00PM EDT Value change:▲0.60 (0.93%)
NYSE:LHCG

LHC Group

Company ID [NYSE:LHCG] Last trade:25.74 Trade time:4:00PM EDT Value change:▲0.25 (0.98%)
NYSE:MSL

MidSouth Bancorp

Company ID [NYSE:MSL] Last trade:19.11 Trade time:4:01PM EDT Value change:▲0.06 (0.31%)
NYSE:PQ

Petroquest Energy

Company ID [NYSE:PQ] Last trade:6.66 Trade time:4:02PM EDT Value change:▲0.25 (3.90%)
NYSE:PHII

PHI Inc.

Company ID [NYSE:PHII] Last trade:41.52 Trade time:3:59PM EDT Value change:▲1.02 (2.52%)
NYSE:SPN

Superior Energy

Company ID [NYSE:SPN] Last trade:35.84 Trade time:4:03PM EDT Value change:▲0.20 (0.56%)
NYSE:SGY

Stone Energy

Company ID [NYSE:SGY] Last trade:35.19 Trade time:4:01PM EDT Value change:▲0.86 (2.51%)
NYSE:FB

Facebook Inc.

Company ID [NYSE:FB] Last trade:74.82 Trade time:4:00PM EDT Value change:▲0.96 (1.31%)
NYSE:TWTR

Twitter Inc.

Company ID [NYSE:TWTR] Last trade:49.75 Trade time:4:01PM EDT Value change:▲0.32 (0.65%)
NYSE:GCI

Gannett

Company ID [NYSE:GCI] Last trade:33.76 Trade time:4:03PM EDT Value change:▲0.01 (0.03%)
Advertisement

Read the Flipping Paper!

Click Here for the Entire Print Version of
ABiz
 
Advertisement
Advertisement