Education lottery sales totals rise for eighth-straight fiscal year

Monday, July 16, 2012 at 12:06pm
Staff reports

The Tennessee Education Lottery Corp. reached record-high totals for fiscal year 2012, including $323.4 million raised for state education programs.

The increase reflects a jump of 10.2 percent over last fiscal year’s then-record total of $293.4 million for education, and the totals include about $30 million more to be used for education-related funding in Tennessee, according to a spokeswoman for the lottery.

The FY 2012 — covering July 1, 2011, through June 30, 2012 — total sales of $1.31 billion surpassed last year’s previous sales record by $124.6 million. The totals marked the eighth consecutive year the lottery has posted record sales.

Total education funding since ticket sales began in January 2004 now stands at more than $2.39 billion, with total sales topping $9.1 billion and total prizes won exceeding $5.4 billion.

“Across the corporation we’ve focused on our mission to serve Tennessee students and their families by maximizing proceeds for the education programs funded by the lottery,” said Rebecca Hargrove, president and CEO of the lottery corporation. “We continue to hone our business model, developing new and innovative product offerings for the playing public, expanding our retailer base, emphasizing customer service, and operating at all times with efficiency and the utmost integrity. In this fashion the Lottery succeeds and access to education is advanced in Tennessee.”

According to a lottery spokeswoman, data from Tennessee Student Assistance Corp., the entity that oversees lottery-funded programs, shows more than 600,000 grants or scholarships to in-state education institutions have been awarded since the state lottery was instituted. More than 100,000 received grants or scholarships during the past academic year.

Eighty percent of the lottery sales totals came from instant games in FY 2012, and the introduction of 43 new instant games drove instant sales numbers up 10.6 percent over fiscal year 2011.