Louisiana Lottery revenue up for 5th consecutive fiscal year, contributes over $167 million to state

Local News
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The Louisiana Lottery Corporation ended its fiscal year with $453.8 million in revenue, up about $3.3 million from the previous year, making 2015 the Lottery’s second best year ever and its fifth consecutive year of growth. Resulting transfers to the state treasury for K-12 public education were more than $158 million, which was $9.3 million more than the state expected. Also this fiscal year, the Lottery transferred an additional $9 million to the state treasury for the Louisiana Mega-Project Development Fund as part of a 2014 legislative act.

Scratch-offs were once again the shining star in the Lottery’s game portfolio, accounting for a 13 percent sales increase that compensated for dismal Powerball sales. Powerball’s player base has grown to include every U.S. jurisdictional lottery, which means jackpots are getting hit faster and more frequently, according to Lottery President Rose Hudson.

“Because Powerball sales are driven by high jackpots, a matrix change scheduled for October should help the game’s performance,” explained Hudson. “That’s icing on the cake, as the popularity of scratch-off game has exploded. I am proud of the contributions the Lottery has made to responsibly grow recurring revenue for the state while upholding the public’s trust.”

In addition to state coffers, local businesses that sell Lottery products also benefited from the Lottery in fiscal year 2015 with total retailer compensation of more than $25.2 million, which includes sales commission, incentives for cashing winning tickets and bonuses for selling winning tickets.

Fourth quarter figures for fiscal year 2015 show Lottery revenue totaled $108,154,599 with $37,854,110 being transferred to the state treasury.

The Louisiana Lottery ranks second among state lotteries in percent of revenue transferred to its government. In fiscal year 2014, 35.5 percent of Lottery revenue was transferred to the state treasury and dedicated for K-12 public education. Nearly 53 percent of revenue was allocated to prizes for players. At least 5.5 percent was paid to retailers who sell Lottery games, and less than 6 percent was retained by the Lottery for operating costs.

The Lottery’s total fiscal-year state transfers were $167,852,815. Since the Lottery began operations in 1991, more than $8.5 billion in revenue has been generated, primarily from ticket sales. More than $3 billion has been transferred to the state treasury.

“These results should give Louisianians a reason to smile,” Hudson added. “The Lottery will continue to pursue the excellence, ingenuity and customer focus that have made accomplishing our mission possible.”

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. Recent financial statements and historical treasury transfers can be found on the Lottery’s website, louisianalottery.com.
 

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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