Florida Lottery Posts Record-Breaking $5 Billion in Sales ~ Delivers on its Commitment to Aid Education in Florida ~

Jul 8 • 558 Views • View Comments

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TALLAHASSEE, Fla. — Celebrating its 25th anniversary this year, the Florida Lottery announced today it has posted a record-breaking $5 billion in sales for fiscal year 2012-13.  As a result, the Lottery also expects to transfer a record $1.41 billion to the Educational Enhancement Trust Fund (EETF) for fiscal year 2012-13.
Governor Scott said, “Today’s news that the Florida Lottery will invest more than $1 billion for Florida’s education system means more students will have the opportunity to get a quality education. The Lottery’s education investments build on our success last session to increase state education investments by more than $1 billion and provide teachers with a well-deserved pay raise.”

In two fiscal years, the Florida Lottery has increased sales by $1 billion. That’s the fastest pace to one billion dollars in 25 years of existence.
The Florida Lottery’s success depends on its effective implementation of an entrepreneurial business model that focuses on the development of new revenue streams and creates a win-win partnership with its private-sector vendors.  The Lottery constantly evaluates its operating expenses in order to maximize profits, a practice that has resulted in the Lottery having one of the lowest expense rates among domestic lotteries. Lottery contributions have made an impact with more than $1 billion being transferred annually to the EETF for the past eleven consecutive fiscal years, representing approximately six percent of the state’s total education budget.
“The Lottery’s sole mission is to sell tickets to generate additional funding for education.  We are extremely proud to be able to transfer this unprecedented amount to the Education Enhancement Trust Fund this year,” said Florida Lottery Secretary Cynthia O’Connell. “On behalf of the entire organization, we thank our players and our retailers for making this, such an exceptional year.”

ABOUT THE FLORIDA LOTTERY

The Florida Lottery is responsible for contributing more than $25 billion to education and sending more than 600,000 students to college through the Bright Futures Scholarship Program. The Florida Lottery reinvests nearly 98 percent of its revenue back into Florida’s economy through prize payouts, commissions to more than 13,000 Florida retailers and transfers to education. Since 1988, Florida Lottery games have paid more than $40 billion in prizes and made more than 1,500 people millionaires. For more information, please visit www.flalottery.com.

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