Tennessee lottery posts record 1st quarter sales
Lottery sales for the three-month period ending Sept. 30 reached $338.5M, an 8.6 percent increase over last year's then-record first quarter, and delivering proceeds in the amount of $80.2M for education programs in Tennessee.
Total Lottery funding for education-related programs in Tennessee including funds for scholarships, grants, and after-school activities—now exceeds $2.8 billion since the Lottery's inception in January 2004.
"As the Lottery approaches its tenth anniversary, we're excited to continue producing such strong numbers for education funding in Tennessee," said Rebecca Hargrove, President and CEO of the Tennessee Education Lottery Corporation. "These results validate our efforts and serve our mission. We work to provide fun and innovative experiences for the lottery-playing public, while operating efficiently and emphasizing best practices across the corporation. The overriding goal, of course, is to provide vital education-related funding for Tennessee students and their families."
A high transfer of $339.7 million to education programs in the state was announced last year, which was an increase of approximately $16.2M over the then-record set the previous year. The Lottery also reported a record breaking $1.36 billion in total sales for fiscal year 2013, a jump of $56.3M from the prior year's record total.
"Following nine consecutive years of record sales growth, these are remarkable returns and a great way to kick off the new fiscal year," said Keith Simmons, Chair of the Tennessee Education Lottery Corporation's Board of Directors. "From the board's perspective, we certainly appreciate the business-like approach to the Lottery's operations and the commitment to delivering funding for the Lottery-supported education programs in Tennessee."
More than 700,000 grants and scholarships to in-state education institutions have been awarded since the Lottery's inception in 2004, including more than 100,000 awards during the past academic year alone. Lottery funds are also used to support other education-related activities, such as after-school programs and an ongoing initiative to make schools more energy efficient.