The Tennessee Education Lottery (TEL) has announced it has surpassed $2bn in total revenues for a fiscal year for the first time in its history.
Total revenues for the TEL went past the $2bn landmark on June 15 with more than two weeks left in FY2021, which ends on June 30.
TEL President and CEO, Rebecca Paul Hargrove, commented: “This has been quite the year in many ways, but our mission remains the same: to raise funds for the designated education programs we fund. This is a great day for students across Tennessee, and we look forward to announcing our fiscal year totals in mid-July.”
FY2021 has been a record-setting period for the lottery:
- Achieved its best Q1 (July 1-September 30) ever, transferring $114m to the Lottery for Education account.
- Q2 revenues from instant games were $399.5m, the highest for any Q2 since its inception.
- Tennessee-only drawing-style games Cash 3 and Cash 4 up more than 17% and 20% respectively through June 15.
- On April 6, instant game sales were the highest of any single day since its first day of operation, January 20, 2004.
- The week ending April 10 set a record of $47.1m in instant game sales in a week.
- Raised a record-shattering $140.3m for the Lottery for Education Account during Q3.
TEL has awarded more than 1.6 million scholarships and grants with lottery funds since its inception. More than 150,000 students in the Volunteer State benefited in the 2019-2020 school year alone.