PUEBLO, Colo. (KRDO) – The Colorado Lottery revenue for the 2023 fiscal year reached its funding cap for Great Outdoors Colorado (GOCO) and will give almost $75 million in proceeds to help fund parks, recreation, and open space projects across the state.
This is the earliest in the Lottery’s 40-year history that it reached its funding cap.
This is due to two billion-plus jackpots–the mega Million and Powerball–plus a dueling jackpot which helped reach more than a combined billion dollars.
Director of the Colorado Lottery, Tom Seaver, announced he was thrilled funding will be available for GOCO and stated it was the Lottery’s responsibility to grow its revenue to ensure support for its beneficiaries.
The next fiscal year, according to the Colorado Lottery, will have GOCO see the largest increase in funding from the Lottery due to inflation increases.
The GOCO cap is adjusted annually based on the Consumer Price index (CPI) for the Denver metropolitan area for the preceding calendar year.