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Tennessee Lottery To Fully Fund Scholarships

Tennessee LotteryTennessee Lottery: Tennessee Lottery To Fully Fund Scholarships

The Tennessee Education Lottery today celebrates its four-month anniversary with "higher-than projected revenues and an optimistic outlook for its next transfer to the Tennessee Lottery for Education fund scheduled for July 15."

These first four months are something all Tennesseans can be excited about, said Rebecca Paul, CEO and president of the Tennessee Lottery. Weve created entertainment for millions of Tennessee players, some lucky Tennesseans have won approximately $185.5 million in prizes, and were creating a bright future for all Tennesseans.

After two months and 10 days, the Lottery made its first transfer to the state education fund of nearly $64 million. The next quarterly transfer is due to the state on July 15.

Its clear that we will surpass our goal of raising $88 million by June 30, and that the first round of scholarships for students this fall will be funded, said Ms. Paul.

Since the first instant tickets went on sale January 20, the Lottery has sold approximately $348 million for all games combinedinstant tickets, Cash 3 and Powerball.

Powerball sales have been more than twice what we projected, said Ms. Paul. Since the multi-state games launch on April 19, nearly $23 million in tickets have been sold. Of course, when we began the jackpot was $90 million and grew to $212 million. However, there continues to be incredible interest, she said.

As of today, nine Tennessee Powerball players have won $100,000 each. A tenth $100,000 winner from the Knoxville-area, who has not yet claimed their prize, selected the Power Play option when purchasing the ticket, which means their winnings will increase to $200,000. The current Powerball jackpot for Saturdays drawing is estimated at $33 million.

All Tennessee Lottery profits will go to education programs. Most immediately, the Lottery is charged with raising at least $88 million by July 1 in order to fund scholarships for an estimated 65,000 students expected to attend Tennessee colleges and universities this fall.

Chattanoogan

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1 comment. Last comment 10 years ago by CASH Only.
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United States
Member #379
June 5, 2002
11296 Posts
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Posted: June 12, 2004, 10:35 am - IP Logged

The PowerPlay number must have been 2.