Louisiana Lottery Has Third Best Year Since Its 1991 Start
BATON ROUGE (AP) — Louisiana's lottery had its third-best year ever since operations began in 1991, taking in nearly $455 million from gamblers in the budget year that ended in June.
But revenue in the 2016-17 fiscal year still was down nearly $54 million from a year earlier.
The Louisiana Lottery Corporation attributed the drop to the state economy's continued hit from the oil industry's struggles, a lower unclaimed prize pool and a sales spike last year tied to a record Powerball jackpot.
Thirty-five percent of lottery income, about $159 million, went to Louisiana's treasury for K-12 education. More than half the revenue went to prizes for players. Retailers who sell lottery tickets received a slice of the money.
The lottery says less than 6 percent of the money pays for its operating costs.