State lottery posts record first-quarter proceeds of $81M

Tuesday, October 16, 2012 at 1:48pm

The Tennessee Education Lottery Corp. has posted a new first-quarter record in proceeds of $81.2 million, which represents a 14.2 percentincrease over the same period last fiscal year.

According to lottery officials, total funding for education-related programs in Tennessee now exceeds $2.47 billion since the lottery started in 2004.

According to data from the Tennessee Student Assistance Corp., which administers most lottery-funded programs, more than 600,000 scholarships and grants to in-state educational institutions have been awarded since the Lottery’s inception in 2004, including more than 100,000 recipients during the past academic year alone.

In addition to providing in funds for education-related programs, the lottery has produced total sales surpassing $9.4 billion and total prizes won reaching more than $5.6 billion. Total commissions to the nearly 5,000 Tennessee retailers offering lottery tickets now stand at more than $615 million.

3 Comments on this post:

By: 4gold on 10/17/12 at 7:32

Amazing profits since they went to computer numbers that can be controled. If the computer can eliminate numbers that they claim to have fixed. They can control it the other way too. I stopped donating when they left ping pong balls and said it would cost hundreds of thousands of dollars to go back. Really? Where do they buy their ping pong balls?

Go Dores, Preds, Titans! Go Nashville a great place to live!

By: NewYorker1 on 10/17/12 at 8:05

Sure they do. They don't allow anybody to win.

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