Lottery transfers nearly $1 billion in FY ’14

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Georgia Lottery Corp. officials said the lottery generated nearly $1 billion for education purposes during fiscal year 2014, which was a record haul from the state-sponsored games of chance.

The lottery transferred $945.1 million to the state treasury during the just-completed fiscal year, which exceeded the fiscal year 2013 record by more than $17.6 million.

That amount, which will pay tuition for HOPE scholarship recipients and fund the state’s pre-kindergarten program, was derived from more than $4 billion in gross revenues, another all-time record for the lottery.

“We remain focused on our mission to responsibly maximize revenues for these important educational programs,” Lottery President Debbie Dlugolenski Alford said.

The Georgia Lottery has generated more than $15.5 billion for education programs during its first 20 years of operation, with more than 1.6 million students receiving HOPE tuition assistance and more than 1.3 million four-year-olds attending pre-kindergarten programs.

© 2013 by The Georgia Report

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Tags: annual revenue , Georgia Lottery , HOPE scholarships