LOTTERY RAISES $1 BILLION FOR EDUCATION! Strong sales continue, pushing proceeds for education across major milestone
Wednesday, October 24, 2007
NASHVILLE - Continued strong sales pushed Tennessee Lottery proceeds for education to over $1 billion this week.
“What an incredible milestone!” said President and CEO Rebecca Hargrove. “More than one billion dollars for education in the state is something all Tennesseans can celebrate.”
By statute, the Lottery transfers quarterly proceeds to the Lottery for Education Account every quarter. The most recent quarterly proceeds for the quarter ending Sept. 30, 2007 resulted in $67.7 million for the account—an amount that was 8.79 percent higher than the same quarter one year ago.
“We continue to introduce new and exciting games and offer superior customer service,” said Hargrove. “With this billion-dollar milestone, our goal to continue growth year-after-year continues to be met.”
According to the Tennessee Student Assistance Corporation (TSAC), the organization that oversees the Lottery-funded scholarship programs, more than 68,000 students will receive awards to higher-education institutions in the state this year. In addition, thousands of students have benefited from pre-kindergarten and after-school services provided with Lottery funds.
In addition to the funds generated for education programs, Lottery proceeds are used pay prizes to players and sales commissions to retailers who sell Lottery products.
The Tennessee Lottery began selling its first tickets on January 20, 2004. Funds are used for specific education programs, including college scholarships, pre-kindergarten and after-school programs. For more information, please visit www.tnlottery.com. For information about Lottery-funded scholarships, visit www.collegepaystn.com.
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