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New Mexico Lottery on a Roll

New Mexico LotteryNew Mexico Lottery: New Mexico Lottery on a Roll

The lottery has been a hot ticket in New Mexico.

The New Mexico Lottery Authority reported Thursday it had a record $148 million in sales for the 12-month period ending June 30.

New Mexico joined the Georgia Lottery Corporation as the two most successful lottery startups in the U.S.

The New Mexico Lottery also announced it has surpassed last year's $33.1 million profit for education, but final figures on those revenues won't be available until later this month.

Lottery officials noted that all figures for the just completed fiscal year are preliminary and unaudited. All profits (net revenues) are currently earmarked for the Lottery Success Scholarship program, which provides tuition for New Mexico students at more than two dozen in-state public colleges, universities and community colleges.

New Mexico and Georgia are the only two U.S. lotteries to have seven consecutive full years of sales increases since their startups. In addition, the New Mexico Lottery has set in-state net profit records each of the last five years.

"The future of the Lottery Success Scholarship is even stronger," said Tom Shaheen, the chief executive officer.

Overall sales for fiscal year 2004 increased by $11 million (8 percent) over the same period in fiscal 2003.

Although final data for Lottery Success Scholarship net profits won't be available for several weeks, the Lottery had already raised more money for the program by the end of May 2004 than during all of fiscal year 2003.

In February, the New Mexico Lottery also passed $200 million in funds raised for education since its inception in April of 1996.

Shaheen said the latest record performance in sales and profits is the result of across the board sales increases for all games.

According to the New Mexico Commission on Higher Education, more than 27,000 students so far have benefited from the Lottery Success Scholarship since the program began in 1997.

AP

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1 comment. Last comment 12 years ago by dphillips.
Page 1 of 1
dphillips's avatar - littleuns
Albuquerque, New Mexico
United States
Member #5128
June 18, 2004
377 Posts
Offline
Posted: July 10, 2004, 4:48 am - IP Logged

Since I live in New Mexico and contribute to the Lottery Scholarship fund, what a success story!  When these students graduate, they will be contributing members in the workforce.

dphillips (Blue)