Louisiana Lottery Has Second-Best Year Ever, Contributes Over $191 Million to State Treasury
BATON ROUGE, Louisiana (August 25, 2022) — The Louisiana Lottery Corporation ended its fiscal year with nearly $581.3 million in revenue, $6.5 million below budget but still the Lottery’s second-best-ever fiscal year finish. The resulting transfers to the state treasury for K-12 public education were $191.2 million.
“Sales dipped this fiscal year due to Hurricane Ida in September, players having more gaming options since casinos have opened to full capacity, as well as skyrocketing inflation and gas prices in recent months that impact consumer discretionary spending,” said Lottery President Rose Hudson. “Still, we are keeping things in perspective. When you compare our average weekly sales for 2022 at $11.2 million to 2019 at $10.1 million before the pandemic, they are running about $1.1 million better a week.”
Scratch-offs continued to be the top seller in the Lottery’s game portfolio, generating $292.8 million, which is approximately half of the Lottery’s sales.
Over the last couple of years, the Lottery began adjusting scratch-off game prize structures, increasing prize payouts, adding more higher price-point games and launching new types of games. This strategy has been well received by players, resulting in net gains for the state.
Sales of the Lottery’s daily numbers games, Pick 3, Pick 4 and Pick 5, were the second highest revenue generator and ended at approximately $138.9 million for 2022.
Fourth quarter figures for the fiscal year 2022 show Lottery revenue totaled $141,387,203 million with $48,181,459 million being transferred to the state treasury.
The Lottery’s total fiscal-year state transfers were $191.2 million. Since the Lottery began operations in 1991, nearly $12.2 billion in revenue has been generated, primarily from ticket sales. Over $4.3 billion has been transferred to the state treasury.
In addition to state coffers, local businesses that sell Lottery products also benefited from the Lottery in the fiscal year 2022. Fourth quarter retailer compensation totaled $7,983,642 including sales commission, incentives for cashing winning tickets, and bonuses for big winning selling tickets, bringing fiscal year total earnings to $32.9 million. Since the Lottery’s inception, retailers have earned more than $671.8 million.
“In addition to maximizing revenue for public education, our mission also involves operating with integrity and public trust,” noted Hudson. “Toward that end, I’m pleased to report we ended the year $1.3 million under budget for our general operating expenses with state transfers representing about a third of our total revenue; this makes Louisiana one of the most fiscally efficient lotteries in the nation.”
Lottery ticket purchasers must be at least 21 years of age. The Lottery encourages anyone with a gambling problem, or friends of anyone with a gambling problem, to call toll-free 1-877-770-7867 for assistance. Recent financial statements and historical treasury transfers can be found on the Lottery’s website, louisianalottery.com.
SOURCE: The Louisiana Lottery Corporation.Louisiana Lottery Corporation, K-12 public education, Scratch-offs