Louisiana Lottery has posted its highest sales total of all time, ending fiscal year 2016 with $508.3 million in revenue, the company says today.
The company says in a news release that the $508.3 million in revenue tops its $494.7 million haul in 1993, when Louisiana Lottery was the only legalized form of gaming in the state.
The state lottery organization has also posted revenue growth for the sixth consecutive fiscal year, with revenues this fiscal year up $54.5 million from 2015.
Per state law, Louisiana Lottery has to transfer at least 35% of its sales every year to the state treasury. As a result, the lottery organization sent some $177.9 million this fiscal year to state coffers, or $27 million more than was budgeted.
Scratch-offs sales for Louisiana Lottery were up 4.9% over last year, and the world-record $1.58 billion Powerball jackpot in January launched sales in that game up by 45.5%.
Since the Lottery began operations in 1991, it has generated more than $9 billion in revenue, primarily from ticket sales, and transferred more than $3.2 billion to the state treasury.
“After six consecutive years of growth, the Lottery achieved a new all-time high,” says Rose Hudson, Louisiana Lottery president and CEO, in a news release. “Although this is certainly an impressive feat in today’s saturated gaming marketplace, our true satisfaction comes in knowing we’re accomplishing our mission to raise funds for Louisiana K-12 public education.”
