Florida Lottery reports record year

TALLAHASSEE, Florida -- (PRESS RELEASE) -- The Florida Lottery announced today that fiscal year 2006-2007 (July 1, 2006 through June 30, 2007) produced record-breaking sales revenue and contributions to Florida's public education system. For the first time since its inception, the Lottery's annual net sales exceeded $4 billion, resulting in more than $1.26 billion to education. The Lottery's net sales for fiscal year 2006-07 totaled $4.12 billion, an increase of $190 million over the previous year.

The Florida Lottery has experienced tremendous success over the past five years, averaging 12 percent annual growth and resulting in increased contributions to education. In January 2007, the Lottery surpassed $17 billion in transfers to the Educational Enhancement Trust Fund (EETF) since 1988. The Florida Lottery's contributions to education in 2006-07 exceeded the previous year by more than $40 million. This is the fifth consecutive year of more than $1 billion in education contributions.

Representing approximately five percent of the state's total education budget, Lottery funds contribute to K thru 12 programs in Florida's 67 school districts, school construction and renovation projects throughout the state, additional funding for state universities and community colleges, the Bright Futures Scholarship Program, and other state student financial aid.*

"It is gratifying to see that 19 years later, the Florida Lottery is still fulfilling its mission of enhancing education in the state," said Florida Lottery Secretary Leo DiBenigno.

In fiscal year 2006-07, the Florida Lottery also helped recoup more than $1 million in state-owed debt, including $571,065 in uncollected child support. The Lottery is required by law to check the state-owed debt database prior to paying prizes of more than $600.

Though considered an industry leader, the Florida Lottery recognizes that sustained growth will become more difficult as it approaches its 20th year of operation in 2008. The Lottery faces the challenge of slow-growth trends typical of mature lotteries. Therefore, during its 20th anniversary, the Florida Lottery will unveil new and exciting game launches, as well as enhancements to current game offerings, designed to keep the agency as a strong partner for education in Florida.

Since 1988, the Florida Lottery has contributed more than $17 billion to the EETF, benefiting our students and schools, as well as fully funding more than 850,000 Bright Futures scholarships - benefiting more than 300,000 students statewide. By a two-to-one margin, Florida voters in 1986 approved a constitutional amendment authorizing the state to operate a lottery for the purpose of generating significant additional moneys for education.