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TN LOTTERY CELEBRATES FOUR MONTHS, $348 MILLION IN SALES: “INCREDIBLE” POWERBALL INTEREST BOOSTS REVENUES
Thursday, May 20, 2004
Media Contact:  Kym Gerlock
(615) 324-6886 Office
(615) 604-2827 Mobile
 

NASHVILLE - The Tennessee Education Lottery today celebrates its four-month anniversary with higher-than projected revenues and an optimistic outlook for its next transfer to the Tennessee Lottery for Education fund scheduled for July 15.



“These first four months are something all Tennesseans can be excited about,” said Rebecca Paul, CEO and president of the Tennessee Lottery. “We’ve created entertainment for millions of Tennessee players, some lucky Tennesseans have won approximately $185.5 million in prizes, and we’re creating a bright future for all Tennesseans.”



After just two months and 10 days, the Lottery made its first transfer to the state education fund of nearly $64 million. The next quarterly transfer is due to the state on July 15.



“It’s clear that we will surpass our goal of raising $88 million by June 30, and that the first round of scholarships for students this fall will be funded,” said Paul.



Since the first instant tickets went on sale January 20, the Lottery has sold approximately $348 million for all games combined—instant tickets, Cash 3 and Powerball.



“Powerball sales have been more than twice what we projected,” said Paul. Since the multi-state game’s launch on April 19, nearly $23 million in tickets have been sold. “Of course, when we began the jackpot was $90 million and grew to $212 million. However, there continues to be incredible interest,” she said.



As of today, nine Tennessee Powerball players have won $100,000 each. A tenth $100,000 winner from the Knoxville-area, who has not yet claimed their prize, selected the Power Play option when purchasing the ticket, which means their winnings will increase to $200,000. The current Powerball jackpot for Saturday’s drawing is estimated at $33 million.



All Tennessee Lottery profits will go to education programs. Most immediately, the Lottery is charged with raising at least $88 million by July 1 in order to fund scholarships for an estimated 65,000 students expected to attend Tennessee colleges and universities this fall.

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