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Mississippi Lottery’s first year of operation has been a roller coaster ride! From selling their first lottery ticket to combating a drop in sales due to COVID-19, just a few months late, the Lottery has seen it all in its introductory year.
Currently, the lottery is riding its journey of success and has transferred approximately $70.7 million to the state treasury in less than a year of operation. This huge success of the Lottery is hinting towards the funding of state education by 2021.
After deducting all the expenses and prize payouts, the first $80 million will be allocated to the State Highway Fund that maintains and builds, roads, bridges, and highways in Mississippi. Lottery proceeds that will surpass $80 million will be allocated to the Education Enactment Fund to upkeep the facilities in schools, transportation, and classroom supplies. Since the lottery’s average sales cross $10 million every week, it is very likely that it will surpass the $80 million mark and will soon contribute to education in the coming fiscal year.
Considering a complete shut down due to the advent of the global pandemic, the lottery sales saw a drop by 10% to 13%, thus producing $70,7 million after all deductions, which is allocated to the maintenance of roads and bridges.
The President of Mississippi Lottery, Tom Shaheen, states that it is a good start, and in the coming months they look forward to raising more revenue for Mississippi’s bridges, roads, and education.
The Lottery releases new scratch-off games on the first Tuesday of every month, with a daily draw game - Cash 3 already on the list, thereby increasing its portfolio and sales. The Lottery is planning to introduce a number of draw games to entertain its players!
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