Published: July 15, 2008 02:29 pm            

Milestone reached: $10 billion for education transferred from lottery

Submitted by the office of the governor



ATLANTA – Today Governor Sonny Perdue joined Georgia Lottery Corporation President and CEO Margaret DeFrancisco at Georgia Lottery headquarters to announce that it has transferred a total of $10 billion for education to the state of Georgia since the lottery’s inception in 1993.

“Today, we mark $10 billion in total that the Georgia Lottery has contributed to education in Georgia since it was launched in 1993,” said Perdue. “In those fifteen years, we’ve seen record payouts, record ticket sales and, now, this staggering contribution to the future of Georgia’s children and our state as a whole.”

The Georgia Lottery has experienced extraordinary success as one of only two traditional lotteries in the nation to experience 10 consecutive years of growth in profits.

“The Georgia Lottery Corporation has a success formula that works and delivers results for Georgia’s students and families,” DeFrancisco said. “Lottery-funded HOPE Scholarships and Pre-K Programs have made a fundamental difference in the lives of so many Georgians. The transfer of our 10 billionth dollar to education is a tremendous accomplishment that we can all celebrate.”

DeFrancisco presented Perdue with an oversized check for $10 billion made payable to “Georgia Students” during today’s ceremony.

The Georgia Lottery’s fiscal year 2008 profits transferred to the State Treasury’s Lottery for Education Account amount to $858,355,000, surpassing last year’s record transfer by more than $4.8 million.

Georgia Lottery sales for fiscal year 2008, which spanned from July 1, 2007, to June, 30, 2008, totaled $3,519,341,000 – the highest in the lottery’s 15-year history and more than $97.6 million ahead of the previous sales record of $3.42 billion in fiscal year 2007.

The mission of the Georgia Lottery Corporation is to raise revenue for education in Georgia. Since its first year, the Georgia Lottery Corporation has returned over $10.1 billion to the state of Georgia for education. All Georgia Lottery profits go to pay for specific educational programs including Georgia’s HOPE Scholarship Program and Georgia’s Prekindergarten Program. More than 1 million students have received HOPE, and more than 860,000 4-year-olds have attended the statewide, voluntary prekindergarten program.

For more information, please visit the Media Center on the Georgia Lottery Web site at www.galottery.com.

        

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