Texas lottery breaks records
The lottery of Texas has reported new record-breaking results closing at US$5.077 billion.
US.- Texas Lottery authorities have published the latest results, showing a record-breaking report of US$5.077 billion. The result is based on sales for fiscal year 2017, breaking the sales record it set just last fiscal year and resulting in a total contribution of US$1.334 billion to Texas schools and veterans.
“This is the seventh consecutive year that the Texas Lottery has reached record sales,” said Gary Grief, executive 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.”
“This year’s revenue transfer included $1.313 billion to the Foundation School Fund and $16.2 million to the Fund for Veterans’ Assistance, the Lottery’s largest contribution to Texas veterans. The Texas Lottery has now contributed more than $21 billion to Texas public education and more than $80 million to Texas veterans since the dedication of such funds by the Texas Legislature,” stated the report.
The Executive Director commented that their continued success is partially attributed to the administrative costs that represent a 4.4 percent of annual sales, one of the lowest expenditure rates in the country.
