Posting its tenth consecutive year of increased sales, today the Tennessee Education Lottery Corporation announced its sales and proceeds figures for Fiscal Year 2014. The Lottery reported $1.417 Billion in total sales for Fiscal Year 2014, an increase of $49 Million over last year’s previous sales record of $1.368 Billion. This year’s sales resulted in a contribution of $337.2 Million for the education programs funded by the Lottery.
A robust growth in instant ticket sales substantially contributed to this year’s sales growth. Forty- seven new instant ticket games were introduced during the year. Sales of these popular games reached an all-time high of $1.15 Billion during Fiscal Year 2014.
“From top to bottom, we’ve stayed focused on the corporation’s mission to serve Tennessee students and their families by responsibly maximizing proceeds for the education programs funded by the Lottery,” said Rebecca Hargrove, President and CEO of the Tennessee Education Lottery Corporation.
“We work continually to refine our business model, to introduce innovative and entertaining games for our players, to promote efficiencies and best business practices across the organization, and to provide top-notch support for the retailers that sell the Lottery’s products. In this manner, the Tennessee Lottery succeeds for all of our stakeholders—from the player who enjoys our games, to the retailer who earns the commission, to the student who works hard for and relies upon the scholarship.”
According to data from Tennessee Student Assistance Corporation, the entity that oversees Lottery funded programs, more than 800,000 grants or scholarships were awarded to students to attend in-state institutions of higher learning since the Lottery’s inception in 2004. During the past academic year alone more than 100,000 grants or scholarships were awarded. Lottery funds are also used to support other education- related endeavors, such as after-school programs and an ongoing initiative to make schools more energy efficient.
Total Lottery funding for education programs in Tennessee—including funds used for scholarships, grants, and after-school programs—now exceeds $3 Billion since ticket sales began in January 2004.
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 $3 billion for these programs. In addition to the educational beneficiaries, players have won over $7.5 billion in prizes and Lottery retailer partners have earned over $776 million in retailer commissions.
For more information, please visit www.tnlottery.com.
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