Lottery Sets New Record for Education Funding In Tennessee
More Than Half-a-Billion Raised During the Past Fiscal Year
NASHVILLE, Tennessee (July 17, 2023) – The Tennessee Education Lottery has set a new Fiscal Year record for the amount generated for education, transferring a total of $515,397,000 to initiatives that include scholarships, grants and after-school programs.
Since ticket sales began Jan. 20, 2004, a total of more than two million scholarships and grants have been awarded and the Lottery has raised a total of over $7 billion.
“This stellar performance is made possible by the hard work and support of so many,” said Rebecca Paul, President and CEO of the Lottery. “Students continue to win, thanks to an incredible Board of Directors, our network of more than 5,000 retailers, elected officials, enthusiastic players and a dedicated team of talented employees.”
The new fiscal year record (July 1, 2022 – June 30, 2023) for total education funding surpassed the prior year by more than $29.8 million. In fact, for the past 10 years, Lottery for Education proceeds have increased an average of 4.5 percent annually.
Primary sales drivers during the past year include three mega-jackpot runs, the launch of popular new instant tickets, a third weekly Powerball drawing, the growth of Powerball Double Play, the addition of a third weekly drawing for Lotto America, and the launch of a new drawing-style game, Daily Tennessee Jackpot.
Since inception, players have won a total of more than $19.2 billion in prizes and Lottery retailers have been paid more than $1.8 billion in retailer commissions.
The Tennessee Education Lottery Corporation operates entirely from the revenue it generates through the sale of its products. For more information, visit tnlottery.com.
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SPORCE: The Tennessee Education Lottery Corporation.Tags: The Tennessee Education Lottery Corporation, New Record for Education Funding