The Georgia Lottery has announced its most successful results in the history of the corporation, posting profits of $1.54bn (£1.13bn). As per state legislation, the lottery’s profits will be transferred to local communities through education funds.
The profits raised have been transferred to Georgia’s HOPE Scholarship and pre-K programs across the state. The HOPE scholarship helps undergraduate students gain access to university when they otherwise wouldn’t have funds. Pre-K programs provide toddlers with free pre-school education and it helps the state develop the minds of younger people before entering school.
Georgia Lottery President and CEO Gretchen Corbin commented: “Over the past year, like many organisations, we faced numerous challenges. We pivoted, made adjustments, and worked hard each day with a focus on Georgia’s students and our mission to maximise revenues for HOPE and Pre-K.”
The fiscal year 2021 marks the sixth consecutive year that Georgia Lottery has exceeded $1bn (£732.29m) profits. It also marks the 10th consecutive year of profit growth and FY2021 profits exceeded the previous year’s profits by $307.6m (£224.59m). The lottery has now raised $23.8bn (£17.42bn) for the state’s education funds since its inception.
Gov. Brian Kemp, Governor of Georgia, said: “Coming out of a difficult year, these Georgia Lottery numbers are welcomed good news for both our students and our economy. From Pre-K to HOPE, lottery-funded educational programs provide the groundwork for a lifetime of learning and help us retain our best and brightest students.
“We are confident that these funds will continue to ensure that Georgia is the best state to live, work, and receive a great education.”