NASHVILLE - Continuing on pace for a another record-setting year, the Tennessee Education Lottery Corporation today announced that total sales for February 2012 were a remarkable $130.03 million, the highest of any month since inception of the Lottery and a whopping
11.4 % increase over the previous record month of March 2011 ($116.7 million).
Lottery for Education Proceeds—the funds used for scholarships, grants and related programs-- totaled $30.4 million for February alone. Total Lottery for Education Proceeds through February are now $197.9 million, up $14.3 million over the same period last year, a robust 7.8% growth rate.
Driven by strong growth in instant games, new player attractions, and a restructured Powerball, total year-to-date sales for Fiscal Year 2012 have now reached $840.7 million, an increase of
$67.8 million or 8.75% over last year’s record-setting results.
“These are tremendous results,” said Rebecca Hargrove, President and CEO of the Tennessee Education Lottery Corporation, “and a testament to our constant focus on the marketplace and bringing innovations to the community of Lottery players. All of us are especially proud of the positive impact these proceeds will have in providing welcome financial assistance to so many Tennessee students and their families.”
Last year the Lottery announced an all-time high transfer of $293.5 million to education programs in the state, an increase of $4.6 million over the previous record set the year before. The Lottery also reported a record-breaking $1.19 billion in total sales, which was a 4.2 percent increase over the previous record also set a year earlier.
“Clearly we’re on track for a yet another record-smashing year,” added Hargrove.”As always, we’ll continue to work at maximizing proceeds, as responsibly as we can, to support the education programs the Lottery funds.”
A summary of financial highlights from February’s numbers:
• February 2012 set the record as the best total sales month since inception at $130.03 million, an increase of 11.4 % over the previous record month of March 2011 ($116.7 million).
• Instant Ticket sales set a record at $104.48 million, beating the previous record month of March 2011 ($92.8 million) by 12.6%.
• Year to Date Total Sales at 2/29/2012 were $840.7 million, compared to $772.9 million a year ago, an increase of 8.75%.
• Year to Date Instant Sales of $678.1 million are up 10.2%, and Online Sales of $162.6 million are up 3.3%, compared to FY2011.
• Lottery for Education Proceeds for February 2012 were $30.4 million, which is the second highest month since inception (February 2006 was highest month at $30.77 million).
• Lottery for Education Proceeds year to date through February 29, 2012 were $197.9 million, which is $14.3 million (7.8%) ahead of fiscal year 2011 at February 28, 2011.
• After-School Proceeds year to date through February 29, 2012 were $7.18 million, compared to $6.56 million in fiscal year 2011.
• Total Education Funding year to date through February 29, 2012 was $205,137,000, compared to $190,161,000, an increase of $14,976,000 (7.9%).
About the Tennessee Education Lottery
The Tennessee Education Lottery Corporation operates entirely from the revenue it generates through the sale of its products. Net proceeds from sales of Lottery tickets fund specific education programs, including college scholarships, grants and after-school programs.
Since the Lottery began selling tickets on January 20, 2004, it has raised more than $2.2 billion for these programs. In addition to the educational beneficiaries, players have won over $5 billion in prizes and Lottery retailer partners have earned nearly $549 million in retailer commissions.
For more information, please visit www.tnlottery.com. For information about Lottery-funded scholarships, visit www.collegepaystn.com. To see a county-by-county breakdown of the number of students who benefit, visit www.seehowitaddsup.com.
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