RICHMOND, Virginia (WHSV) – Virginia Lottery Wednesday reported record sales and profits for the state fiscal year ended June 30th.
The successful rollout of new online games and the continued strength of traditional lottery products sold in retail stores drove the lottery’s annual revenue to nearly $ 3.3 billion in fiscal 2021, up from a sales increase of more than 50 percent, according to a press release the previous year prior.
Lottery winnings, which are constitutionally required to be spent on K-12 public school programs in Virginia, rose nearly 30 percent and exceeded $ 765 million, the statement said.
Fiscal 2021 preliminary results were announced during Wednesday’s Lottery Committee meeting, which Governor Ralph Northam attended to receive a solemn check for $ 765 million in lottery winnings for K-12 school programs from Lottery General Manager Kevin Hall.
“The Virginia Lottery has an important role to play in helping our public schools and you’ve really done something this year,” said Governor Northam. “Our government has been focused on building public education across the Commonwealth, and I wanted to be here today to personally congratulate the Virginia Lottery on its record breaking achievement.”
“The Virginia Lottery achieved record results for Virginia public schools by attracting new customers online and enhancing many of our traditional games that are sold in thousands of retail stores across the state,” said Hall. “Through the use of technology, product innovation and best business practices, the lottery players, trading partners and employees made a great contribution to the Commonwealth’s students and teachers.”
The lottery posted record sales of $ 3.26 billion this fiscal year, up from $ 2.15 billion in 2020, an increase of 52 percent according to official figures.
They add that the biggest driver behind the surge was the introduction of online lottery sales, which quickly caught on with Virginians and accounted for more than $ 807 million in sales in FY21.
On average, the Virginia Lottery helps generate more than $ 2 million per day for K-12 schools. Lottery revenue traditionally accounts for about 10 percent of Virginia’s total K-12 education budget.
More than $ 10 million in unclaimed prize money in fiscal 2021 has been deposited into the Literature Fund, which provides low-interest loans to communities for building, renovating, and technologically upgrading public schools, the statement said.
For more information, including a localized list of previous fiscal year lottery money to individual school districts, visit the Virginia Lottery Return page.
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