BATON ROUGE, LA (WAFB) - The Louisiana Lottery Corporation reported said the fiscal year that ended in June was its third best year ever, resulting in more than $159 million being transferred to the treasury for public education.
Officials said the Louisiana Lottery ended the fiscal year with $454.8 million in revenue. They blamed a decrease in revenue of about $53.5 million from 2016 on the decline of the oil and gas industry in the state, a smaller pool of unclaimed prizes, and the spike in Powerball sales due to a record $1.6 billion jackpot in January 2016.
"While we fell short of reaching last year's half-billion sales mark, 2017 was a great year despite challenges on many fronts," Rose Hudson, president of the Louisiana Lottery, said in a written release. "The bottom line is that our state received much needed funding for K-12 public education as a result of our efforts."
Officials said 35 percent of Louisiana Lottery revenue in 2017 was dedicated for public education. They added the Louisiana Lottery ranks second among state lotteries in the percentage of revenue that goes to its government.