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Schools to get lottery's record $454 million profit
 Message was posted: 01:02 Aug 23rd, 2006     
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Lottery news from http://www.timesdispatch.com/


The Virginia Lottery hit a fiscal jackpot last fiscal year, and the state's schoolchildren will be the big winners.

The state's gaming agency turned an all-time profit of more than $454 million in fiscal 2006, which ended June 30.

That represents the fifth year in a row that the department turned in another record-high profit.

Under the state constitution, all of the cash will be distributed to the state's public schools.

"We are excited to have been able to make this contribution to public education in the commonwealth," said Sheila Hill-Christian, the agency's new executive director.

She said profit climbed almost 7½ percent over the previous year.

Total sales topped $1.365 billion, with new records established in the Lottery's Pick 3, Pick 4, Mega Millions and Scratcher games. The scratch-off games accounted for $689 million, or more than half of total sales.

Lottery players won $773.5 million during the year. More than $14 million of those prizes went unclaimed. The money was turned over to Virginia's Literary Fund, which is used largely for building and renovating schools and for teacher retirement.

Gov. Timothy M. Kaine dropped by the lottery's headquarters in downtown Richmond to accept a ceremonial check of the money for schools.





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