NASHVILLE - Continuing a trajectory that has produced nine consecutive years of record sales growth, the Tennessee Education Lottery Corporation announced today impressive, record-setting sales for the first quarter of fiscal year 2014. Lottery sales for the three-month period ending Sept. 30 reached $338.5 million, an 8.6 percent increase over last year’s then-record first quarter, and delivering proceeds in the amount of $80.2 million for education programs in Tennessee.
Total Lottery funding for education-related programs in Tennessee—including funds for scholarships, grants, and after-school activities—now exceeds $2.8 billion since the Lottery’s inception in January 2004.
Returns posted by the Lottery showed strength in both major game categories, with sales of instant games increasing by 7.4 percent and drawing-style games increasing by 13.3 percent.
“As the Lottery approaches its tenth anniversary, we’re excited to continue producing such strong numbers for education funding in Tennessee,” said Rebecca Hargrove, President and CEO of the Tennessee Education Lottery Corporation. “These results validate our efforts and serve our mission. We work to provide fun and innovative experiences for the lottery-playing public, while operating efficiently and emphasizing best practices across the corporation. The overriding goal, of course, is to provide vital education-related funding for Tennessee students and their families.”
Last year the Lottery announced an all-time high transfer of $339.7 million to education programs in the state, an increase of approximately $16.2 million over the then-record set the previous year. The Lottery also reported a record breaking $1.36 billion in total sales for fiscal year 2013, a jump of $56.3 million from the prior year’s record total.
According to data from Tennessee Student Assistance Corporation, the entity that oversees Lottery-funded programs, more than 700,000 grants and 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.
“Following nine consecutive years of record sales growth, these are remarkable returns and a great way to kick off the new fiscal year,” said Keith Simmons, Chair of the Tennessee Education Lottery Corporation’s Board of Directors. “From the board’s perspective, we certainly appreciate the business-like approach to the Lottery’s operations and the commitment to delivering funding for the Lottery-supported education programs in Tennessee.”
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 $6.3 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 $2.8 billion for these programs. In addition to the educational beneficiaries, players have won over $6.5 billion in prizes and Lottery retailer partners have earned over $706 million in retailer commissions.
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