The Mississippi Lottery Corporation (MLC) has announced it has collected more than $75m in total net proceeds for the state since July 1, 2020, following the most recent transfer of funds to the Lottery Proceeds Fund in the state’s treasury.
In declaring its January transfer of $23,620,028.54 in net proceeds to the Lottery Proceeds Fund, the corporation confirmed that the total net proceeds for the FY 2021 had reached $75,073,228.69, including a financial adjustment of $76,400 from the FY 2020.
Mississippi State law specifies that the first $80m collected each budget year will go toward highway construction and maintenance, with the next $80m going towards education.
MLC President Tom Shaheen said: “We are thrilled to make this extraordinary contribution to the state. In January, we saw astonishing growth in Powerball and Mega Millions sales as a result of the jackpots growing to unprecedented amounts.
“Additionally, increasing sales in Cash 3 has fueled growth, and instant scratch-off games continue to be popular.
“By law, the first $80m of the fiscal year transfers is dedicated to road and bridge repairs; funds over $80m are earmarked for education needs. With five months remaining in FY 2021, we are on track to raise enough revenue for distribution to both groups!”
