Missouri Lottery reports $377M for education in record year

in Lottery

JEFFERSON CITY, Mo. — After its highest-performing year, the Missouri Lottery is putting more than $377 million in proceeds from the 2021 fiscal year toward the state’s education fund

Lottery sales topped $1.8 billion for FY21, the highest year on record. So far, $345 million in proceeds have been transferred to the education fund with the remainder set to be sent next month. The Missouri State Lottery Commission convened for its quarterly meeting this week, praising the record year and the amount allocated to fund education.

“I marvel at the integrity of the organization financially,” Chairman Lance Mayfield said. “When you stack all that up, it’s just so impressive.”

  • May Scheve Reardon, executive director of the Missouri Lottery, said the annual proceeds to education increased by around $90 million over the last 12 years. This year’s proceeds make up 3-4 percent of the state’s education fund.
  • More than $1.2 billion was paid out in prizes for the year, with Missouri businesses earning more than $103 million from ticket sales. 
  • The Lottery Commission meets to receive updates on games and promotions and enact strategies to optimize sales. It is scheduled to meet again in September.

 https://themissouritimes.com/capitol-briefs-missouri-lottery-reports-377m-for-education-in-record-year/