There are a couple of curves in the present economy that defies gravity. The New Jersey Lottery has announced that the profits generated by sales during the Fiscal Year 2011 have set a new a record of $2.63 billion. This means more that more than $930 million is destined to help public education and institutions. This figure has surpassed sales during last Fiscal Year 2010 and becomes the fourth consecutive year that sales are over $2.5 billion. National lottery
“These Fiscal Year 2011 revenues are a new record in Lottery contributions, and a welcome one,” said State Treasurer Andrew Sidamon-Eristoff. “It’s important that we keep in mind what this year’s $930 million in Lottery contributions is all about — creating brighter futures for the children attending our schools and the students attending our colleges and universities and improving the quality of life for our developmentally disabled and our State’s veterans.”
“The Lottery is constantly striving to improve operations by enhancing player experiences and maximizing our financial contributions to the state’s educational and institutional programming.” said Executive Director Carole Hedinger. “This Fiscal Year marks our 40th Anniversary, so while celebrating our history we have also ushered in a new era by making the New Jersey Lottery the first in the nation to live stream game draws on our website and Facebook page. Social media is now providing our lottery customers with a community that allows for real-time interaction with other players and the Lottery staff.”
According to the Executive Chief Director, the Lottery is the State’s fourth largest individual revenue producer, and since it was created in 1970, it has generated more than $20 billion in support of programs like: county college capital improvement initiatives; school nutrition efforts; the Marie Katzenbach School for the Deaf; the operation of centers for the developmentally disabled, state psychiatric hospitals and homes for veterans; higher education tuition and grants; and aid to colleges and universities. Lottery numbers
“The Lottery is an integral component of the State’s economy,” Hedinger added. “With over 6,100 Lottery retailers, it plays a key role in supporting small businesses throughout the state. In Fiscal Year 2011, Lottery retailers earned approximately $147 million in commissions. Every day, the Lottery helps create winners by providing entertainment and winning jackpots for lottery players, supporting the business community that serves as Lottery retailers, and, all the while, generating financial support for vital programs and organizations in our State.”
