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LOTTERY TRANSFERS OVER $10.5 MILLION IN NOVEMBER REVENUE TO THE STATE TREASURY
December 22, 2008
The Louisiana Lottery Corporation announced that over $10.5 million in November revenue has been transferred to the state treasury department, bringing its fiscal year total transfers to $51.3 million.
Lottery President Rose Hudson said that November revenue of $30 million resulted in $10,507,165 being sent to the state treasury.
"Since the Lottery's inception, we have generated more than $5.7 billion from scratch-off and draw-style game ticket sales, which has resulted in more than $2 billion for the state of Louisiana," said Lottery President Rose Hudson.
Under state law, the treasury department receives 35 percent of every $1 in Lottery sales, which is earmarked for the Minimum Foundation Program that funds public education in Louisiana. At least 50 percent of sales is used to fund Lottery prizes, and retailers receive at least 5 percent as commission on ticket sales. Less than 10 percent is retained by the Lottery for operating costs.
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