Despite a slight decrease in revenue, the Louisiana Lottery reported its third best year ever. Lottery spokesperson Dustin Annison says the corporation brought in nearly $455 million in revenue for the 2017 fiscal year.
“Only behind last year when we had the $1.6 billion record Powerball jackpot and our first year in operation back in 1991,” Annison said.
This year, the lottery saw a $53 million decline in revenue from the previous year. Annison says increased sales for the record Powerball jackpot of more than a billion dollars helps boost revenue last year. He says a number of other factors contributed to the slight dip this year.
“The economic toll on the oil and gas industry we had in south Louisiana, we had a down year there. We also had lower prize payout amount from a lower unclaimed prize pool,” Annison said.
Annison says scratch off tickets are the top seller, accounting for $206 million in sales. Powerball tickets come in second, bringing in $85 million last year. He says the lottery exists to maximize revenue for the state. The Louisiana Lottery transferred nearly $160 million to the state treasury for public education for 2017.
“Thirty-five cents from every dollar our players spend on the lottery goes back to the state as a treasury transfer for K-12 public education,” Annison said.