Posted: Aug 13, 2013 8:22 AM
Updated: Aug 13, 2013 8:22 AM
BATON ROUGE - The Louisiana Lottery Corporation brought in more money than expected in the last budget year and transferred $160 million to the state treasury.
The lottery reported Monday that it took in more than $447 million from players for the fiscal year that ended June 30. Its payment to the state was the second highest annual transfer to the treasury since the lottery began operations in 1991.
Lottery President Rose Hudson credited two record Powerball jackpots and increased scratch-off ticket sales for the better-than-projected year.
Under Louisiana law, 35 percent of the money generated by the lottery goes to the state treasury, dedicated to public elementary and secondary education.
Other dollars go to retailers that sell tickets, and at least half of the lottery's revenue pays for prizes for players.