For the fourth consecutive year, Georgia Lottery ticket sales have topped $3.5 billion.
According to a Georgia Lottery press release, sales for fiscal year 2011, which runs from July 1, 2010 through June 30, 2011, were $3,597,921,870.
“We remain focused on our mission to maximize dollars for the HOPE Scholarship and Pre-K programs,” said Georgia Lottery President and CEO Margaret DeFrancisco. “In spite of the tremendous challenges we’ve faced this year, including the current economic climate, soaring gas prices and a debilitating, week-long winter storm in January, we experienced only a slight, approximate one percent dip in sales.”
The lottery will transfer fiscal year 2011 profits of $846.1 million to the education account. Since the lottery’s inception in 1993, $12.7 billion has been transferred to pay for state programs such as Georgia’s HOPE Scholarship Program and Georgia’s Pre-K Program.
As a result of declining lottery revenues, . In March, that provides full tuition for students who graduate high school with a 3.7 grade point average and a SAT score of 1200 or an ACT score of 26. Students with a 3.0 GPA will receive a reduced amount that is tied to lottery revenues. For fall of 2011, the award will be 90 percent.