Texas Lottery sets new $five.077 billion sales record
Nets $1.313 billion for Texas public faculties and $16.2 million for Texas veterans
Players received greater than $three.three billion in prizes
Even with out the advantage of a record-setting jackpot like 2016’s $1.6 billion Powerball prize, the Texas Lottery accomplished $five.077 billion in sales for fiscal 12 months 2017, breaking the sales record it set simply final fiscal 12 months and leading to a complete contribution of $1.334 billion to Texas faculties and veterans.
“This is the seventh consecutive year that the Texas Lottery has reached record sales,” mentioned Gary Grief, government director of the Texas Lottery. “Due to the amazing work of our staff, retailers and our trusted vendor partners, the Texas Lottery was able to offset the lack of record jackpots with record-setting scratch ticket sales, which led to outstanding sales and revenue results.”
The Texas Lottery has skilled an $890 million build up in sales during the last 5 years representing 21 p.c enlargement over that time period.
This 12 months’s earnings switch integrated $1.313 billion to the Foundation School Fund and $16.2 million to the Fund for Veterans’ Assistance, the Lottery’s biggest contribution to Texas veterans. The Texas Lottery has now contributed greater than $21 billion to Texas public training and greater than $80 million to Texas veterans for the reason that determination of such price range by means of the Texas Legislature.
Education and veterans get advantages
The Foundation School Fund, administered by means of the Texas Education Agency, price range the operational wishes and particular program products and services for Texas faculty districts together with trainer salaries, utilities, apparatus, bilingual training, particular training, proficient and gifted training, and profession and technical training.
The Texas Veterans Commission Fund for Veterans’ Assistance makes grants to be had to eligible charitable organizations, native govt companies, and Veterans Service Organizations that supply direct products and services to Texas veterans and their households. With 1.7 million veterans unfold around the state, those systems supply monetary help, transportation products and services, Post Traumatic Stress Disorder counseling and housing help.
Strong scratch price ticket sales
Scratch price ticket sales for FY 2017 totaled $three.94 billion, the very best scratch price ticket sales in Texas Lottery historical past. Scratch price ticket sales accounted for 77.five p.c of general sales and noticed a five.nine p.c build up of $219.four million over FY 2016 sales.
In addition to record-breaking sales, the Texas Lottery’s cautious spending saved administrative prices to only four.6 p.c of FY 2017 sales, some of the lowest administrative expenditure charges within the nation.
“The cost containment measures taken in our administrative budget continue to contribute to our success,” mentioned Grief. “Any unspent administrative funds are returned directly to the Foundation School Fund.”
FY 2017 was once additionally an ideal 12 months for Texas Lottery gamers and outlets. Players gathered $three.327 billion in prizes, the very best quantity of prizes paid out in Texas Lottery historical past. For the virtually 18,000 outlets that promote lottery tickets around the state, commissions amounted to $253.nine million, the very best fee paid to outlets in Texas Lottery historical past.
“I am very proud of the significant support we continue to provide for Texas education and veterans,” mentioned J. Winston Krause, chairman of the Texas Lottery Commission. “I want to commend Texas Lottery employees, retailers and vendors for once again doing an outstanding job of developing, managing and marketing our portfolio of scratch tickets and draw games.”
FY 17 by means of the Numbers
- $five.077 billion in annual sales is bigger than the once a year sales for lots of well known manufacturers together with Levi Strauss, Coach, Hyatt Hotels and Barnes & Noble.
- This is the 14th consecutive 12 months that the Texas Lottery generated greater than $1 billion in earnings for Texas.
- The Texas Lottery introduces roughly 90 scratch tickets once a year.
- $1 billion may fund 19,000 trainer salaries or 22 million fifth grade virtual textbooks or eight,500 new faculty buses or 825,000 scholar computer systems or high quality after-school systems for 400,000 scholars.
- 97 p.c of Texas Lottery sales are returned to the state within the type of contributions to the Foundation School Fund, the Fund for Veterans’ Assistance and different state systems, and thru prizes and store commissions, bonuses and incentives.
Executive Director leads years of good fortune
Every group has its usaand downs, however beneath the management of Gary Grief, the Texas Lottery has typically been very a success, regardless of being stressed by means of an strangely obsessive native lottery critic who makes a residing looking to make the lottery glance unhealthy.
In reality, Grief has been an integral a part of the good fortune of the Texas Lottery Commission since its inception.
He was once appointed in 1991, by means of the Texas Comptroller of Public Accounts, to the unique eight-member Lottery Task Force assigned to analyze and release the Texas Lottery. In 2002, Grief was once appointed by means of the Commission to serve the primary of what can be 3 separate phrases as performing government director. Between and after those appointments, Grief served as deputy government director till his reliable appointment as government director in 2010.
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