Marking its ninth straight year of record sales, the Tennessee Education Lottery Corporation today announced totals for the just-ended Fiscal Year 2013, including an all-time high of $339.7 Million in proceeds raised for state education programs, an impressive five percent increase over last year’s then-record $323.4 Million. The Lottery’s strong performance produced approximately $16.2 Million more to be used for education-related funding in Tennessee.
The Lottery also reported $1.36 Billion in total sales for FY 2013, a hefty increase of $56.3 Million over last year’s previous sales records of $1.31 Billion. The totals posted span the fiscal year from July 1, 2012 through June 30, 2013.
Total Lottery funding for education-related programs in Tennessee—including funds used for scholarships, grants, and after-school programs—now exceeds $2.73 Billion since ticket sales began in January 2004.
“Like any successful business, we keep sharply focused on our corporate mission,” said Rebecca Hargrove, President and CEO of the Tennessee Education Lottery Corporation. “Developing innovative and entertaining games for our players, emphasizing efficiency and best business practices across the organization, and working closely with our outstanding retailer channel all contributed to another extraordinary year. The end result, of course, is generating more dollars to assist Tennessee students and their families, and we’re proud to have played our part.”
Both categories of Lottery games saw growth. Sparked by the introduction of 47 new instant tickets during the year, sales of these popular games increased by $39.1 Million. Sales of drawing- style games grew by $17.2 Million, driven by enhancements to Powerball and the launch of Hot Lotto, the newest multi-jurisdictional game offered in Tennessee.
According to data from Tennessee Student Assistance Corporation, the entity that oversees Lottery-funded programs, more than 700,000 grants or scholarships to in-state education institutions have been awarded since the Lottery’s inception in 2004, including more than 100,000 awards during the past academic year alone. Lottery funds are also used to support other education-related activities, such as after-school programs and an ongoing initiative to make schools more energy efficient.
“On behalf of the Board of Directors, we salute the Lottery Corporation from top to bottom for yet another superlative year,” said Keith Simmons, Chair of the Lottery’s Board of Directors. “This is an organization that, through hard work, attention to detail, and a commitment to excellence, continues to shine within the industry. More money for education is the objective and the Tennessee Lottery has delivered once again. Well done.”
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, currently averaging over $6 Million per week, fund specific education programs, including college scholarships and after-school programs.
Since the Lottery began selling tickets on Jan. 20, 2004, it has raised more than $2.73 Billion for these programs. In addition to the educational beneficiaries, players have won over $6.3 Billion in prizes and Lottery retailer partners have earned nearly $684 Million in retailer commissions.
For more information, please visit www.tnlottery.com. For information about Lottery-funded scholarships, visit www.collegepaystn.com. For a county-by-county breakdown of the number of students who benefit, visit www.seehowitaddsup.com.
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