Education in Tennessee received a boost today with the announcement of a record fiscal year for the Tennessee Education Lottery Corporation, which will result in a transfer to the state of $288.87 million. This will bring the total generated since ticket sales began on January 20, 2004 to more than $1.77 billion. Gross sales for the fiscal year, which ended June 30, also set a new record of $1.14 billion, bringing the total gross sales since inception to over $6.61 billion.
“We are thrilled with this year’s results,” said Rebecca Hargrove, President and CEO of the Tennessee Lottery. “Thanks to the hard work of so many and the support of players throughout the state, we continue to be a vital source of funding for education in Tennessee.”
According to the Tennessee Student Assistance Corporation, the agency that oversees Lottery-funded programs, more than 100,000 students received awards to higher education institutions in the state during the past academic year. Lottery funds are also used to fund other educational initiatives such as after-school programs.
In addition to over $6.61 billion in gross ticket sales since inception, the Lottery reports the following details about activity from inception through the end of the fiscal year:
More than $3.93 billion in prizes won by players, including:
More than 1,380 winners of $50,000
Of those, 61 were winners of $1 million or more (there have been two additional winners of $1 million in July)
Over $431.7 million paid in retailer commissions
About the Tennessee Education Lottery
The Tennessee Education Lottery operates entirely from the revenue it generates through the sale of its products. Net proceeds from sales of Lottery tickets, currently averaging over $5 million per week, fund specific education programs, including college scholarships and after-school programs. For more information, please visit www.tnlottery.com. For information about Lottery-funded scholarships, visit www.collegepaystn.com.
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