 |
 |
|
NEW MEXICO LOTTERY RETURNS RECORD PROFITS OF $40.8 MILLION; NET TICKET SALES TOTAL $147.1 MILLION
July 24, 2008
ALBUQUERQUE – The New Mexico Lottery today announced record profits of $40.8 million on net sales of $147.1 million for the fiscal year ending June 30.
Lottery profits, which provide tuition assistance to New Mexico residents attending the state’s public colleges and universities, were up $5.98 million – or 17.2 percent -- from last year’s total of $34.8 million. In fiscal year 2008, the lottery returned an average 27.61 percent to state coffers, fulfilling a legislative mandate to return 27 percent a month of gross revenues starting July 1, 2007.
In order to return 27 percent of revenues, the lottery made numerous operational cuts, which included reducing lottery staffing, eliminating retailer and sales staff incentives, reducing Scratcher prize expenses and cutting the advertising budget by approximately one third or $800,000. The cuts totaled $6.5 million.
“Certainly this was the lottery’s most challenging year since start-up, but we cut expenses, largely maintained sales in a highly-competitive gaming market and increased profits for college scholarships,” said Lottery CEO Tom Romero.
Since 1996, the lottery has raised $361.7 million for education and more than 50,000 students have attended college on Legislative Lottery Scholarships.
“We owe tremendous thanks to our employees, board of directors, retailer partners, vendors, elected officials and most importantly our loyal players,” Romero said. “When players choose lottery games over other forms of entertainment, they’re making higher education a reality for their children.”
|
|
|
 |
|
|
 |
|
Swanton Man Wins $1 Million in Lottery’s 30th Anniversary Instant Game
A second-chance drawing proved to be a first-rate ... READ MORE
|
|
|
$100,000 Deal or No Deal Winner From Nitro; $50,000 Match for Cash Winner From Harrisville
Fay Greene, 54, of Nitro, today claimed the West V... READ MORE
|
|
|
West Bend Man Claims $10,000 Powerball Prize
Charles Cuchy of West Bend has claimed the lone $1... READ MORE
|
|
|
Unbelievable Win in High Level!
Tammy Lamlice couldn’t believe her eyes when she s... READ MORE
|
|
|
Brookings Couple Claims $698,933 Wild Card 2 Jackpot
Curtis Ness and his wife Cheryl Herrig-Ness of Bro... READ MORE
|
|
 |
 |
|
Powerball Jackpot Reaches $42 Million!
Even though the grand prize was not hit Wednesday ... READ MORE
|
|
|
New Mexico Lottery Celebrates Roswell Store for Selling $206.9 Million-Winning Ticket
The New Mexico Lottery today christened Roswell Sh... READ MORE
|
|
|
Powerball Jackpot Jumps to $59 Million; Two $400,000 Power Play Prizes Won!
Even though the grand prize was not awarded Saturd... READ MORE
|
|
|
Moriarty Man Wins $500,000 New Mexico Lottery Prize
A Moriarty man yesterday claimed the last top priz... READ MORE
|
|
|
New Mexico Lottery Scratcher Glows in the Dark
To celebrate Halloween, the New Mexico Lottery’s l... READ MORE
|
|
 |
|
