State News

3Q transfer from lottery to state coffers up

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Posted: Apr 29, 2014 10:18 AM
Source: Associated Press

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Topics: louisiana lottery, louisiana economy

BATON ROUGE - The Louisiana Lottery Corporation's third quarter transfer to the state's treasury was $40.9 million, bringing total fiscal year-to-date contributions to $121.1 million.

Lottery officials say the third quarter transfer is 5 percent over 2013 and exceeds budgeted transfers by more than $15.6 million.

With third-quarter revenue of over $117 million, lottery state proceeds reached $40.9 million. By law, 35 percent of Lottery revenue is transferred to the state treasury and dedicated for K-12 public education.

Lottery President Rose Hudson credited the Lottery's success over the last three months to more big jackpot runs, including Powerball's $425.3 million jackpot for the Feb. 19 drawing and Mega Millions' $400 million jackpot on March 18.

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