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Virginia Lottery Sees $454.9 Million Profit
Message was posted: 09:58 Aug 22nd, 2006

User: DoubleDutch Rank: Casino Gold: 1604CG Contributor rating: 3280 Status: Offline

Lottery news from http://www.wjla.com/ Richmond (AP) - The Virginia Lottery says it turned a record profit of just under $455 million dollars, an increase of more than seven percent from the previous fiscal year. Executive director Sheila Hill-Christian says it was the fifth straight record performance for the lottery, and came on record sales of more than $1.37 billion dollars - up $31 million from fiscal year 2005. Lottery officials say players set sales records in the lottery's Pick 3, Pick 4, Mega Millions and Scratcher games. The Virginia Constitution requires the state to use the money for public schools. Governor Tim Kaine says the $455 million dollars represents ten percent of the state's spending on K-12 public schools. He also said at a news conference that North Carolina's lottery that began in March will present a challenge for Virginia to maintain lottery sales. Lottery spokeswoman Jill Vaughan says that eight-to-ten percent of Virginia Lottery ticket sales come from North Carolina residents.