Tennessee Lottery contributes $114m to education

The lottery funds scholarships and grants.
The lottery funds scholarships and grants.

The total revenue brought in for the period is the highest first-quarter figure since the lottery began in 2004.

US.- The Tennessee Education Lottery Corporation contributed $114m to the Lottery for Education Account after a successful first quarter of its 2021 fiscal year.

Through July, August and September, the lottery brought in $492.8m. After subtracting player winnings of $319.6m and other operating costs, the corporation could dedicate $114m to education.

The total revenue brought in for the period is the highest first-quarter figure since the lottery began in 2004.

The Lottery for Education Account is used to fund scholarships and grants. It assisted more than 150,000 in fiscal year 2019-2020.

The lottery’s president and chief executive, Rebecca Paul Hargrove, said: “We ended the last fiscal year in a solid position, and we have continued that momentum through the first quarter.”

The fourth quarter of the last fiscal year brought in $527.3m, while the total revenue for the year reached $1.84bn, showing a marginal year-on-year rise.