The Louisiana Lottery Corporation has announced its latest contribution to the state treasury, transferring nearly $62m in the third quarter of the 2021 fiscal year.
With revenue of $180,660,244, the lottery’s total third quarter (January-March) state transfers were $61,986,841 (34.31%). Since it began operations in 1991, it has brought in more than $11.5bn in revenue and transferred over $4.1bn to the state treasury.
The lottery’s total year-to-date contributions to the Bayou State now stands at over $156m, an increase of over 25% ($31.8m) from the last fiscal year. Its transfers this quarter also exceeded the state’s expectations by more than $20.9m.
Lottery President Rose Hudson commented: “The Lottery team is proud of what we have accomplished to provide funding for K-12 public education during the first three quarters of this fiscal year. We are on track to have our best year ever and will work to carry this momentum forward to ensure a strong fourth quarter finish.
In FY2021, the lottery noted it began adjusting scratch-off game prize structures, increasing prize payouts and adding more of the higher price-point games that have gained popularity, a strategy which it reports has ‘paid off exceedingly well’ and has produced net gains for the state.
Jackpots of $731m for Powerball and $1bn for Mega Millions also helped fuel sales and transfers for the lottery in January.
