Louisiana Lottery sales hit a milestone - FOX 8, WVUE, fox8live.com, weather, app, news, saints

Louisiana Lottery sales hit a milestone

Baton Rouge, La. - Lottery players helped propel the state to one of the best sales year in quite some time. The Louisiana Lottery Corporation reported fiscal year 2012 sales topped $429 million for first time since 1993.

"More than ever, players are flocking to the unique leisure experience provided by our games," said Lottery President Rose Hudson. "Growing sales for consecutive years is not an easy task, especially given consumers' constantly changing lifestyles as well as the rapid growth of technology and its impact on product design and delivery. After just completing the first year of our five-year strategic plan focused on operational efficiency and product distribution, we are enjoying the fruits of our labor."

Since 1993, the annual sales have averaged about $319 million. The Lottery says the last seven years have exceeded that benchmark.

Lottery President Rose Hudson credits its scratch-off product line with helping boost sales. She also says the launch of the multistate MegaMillions game helped as well.

"By effectively positioning the benefits of each game and giving our players more choices, we ended the year with a $41 million increase in multistate jackpot game sales and tripled our original sales projections for Mega Millions," Hudson noted. "Of course, the world-record-shattering Mega Millions jackpot this past spring helped as well."

Hudson expects the lottery's required transfer to the state treasury could surpass $150 million. The Lottery Corporation says that would exceed the state's expectations by about $19 million and bring cumulative transfers to more than $2.5 billion.

Under state law, 35 percent of Lottery proceeds is transferred to the state treasury and dedicated for K-12 public education. At least 50 percent is returned to players in the form of prizes. Less than 10 percent is retained by the Lottery for operating costs, and at least 5 percent is paid to retailers as commission.

Powered by Frankly