DENVER – The Colorado Lottery posted record annual sales of $566.3 million in the fiscal year ending June 30, 2013, thanks to record-setting Powerball jackpots in May and another record-high year of Scratch ticket sales. Sales for the year were up $21.0 million, a 3.8% increase from FY12. Total proceeds to Lottery beneficiaries increased to a record $135.6 million compared to $123.2 million a year ago.
Jackpot games sales were up 9.2% from previous year’s sales generating $197.7 million. When the Powerball jackpot hit a record $590 million on May 18, the Colorado Lottery sold more than $23.1 million during the jackpot run, which ran from April 3 through May 18. This drove total Powerball sales to $116.7 million for FY13, up $34.9 million from FY12. Scratch ticket sales were up 1.2% from previous year’s sales generating a record $368.6 million. In late April a new jackpot game, Pick 3, was introduced and generated $1.9 million in FY13.
For the second year in a row, the Lottery proceeds percentage has increased from 21.85% in FY11 to 22.60% in FY12, with another increase in FY13 to 23.95%. These increases can be attributed to a focus on reducing administrative costs. Lottery proceeds support Colorado parks, recreation, open space, conservation education, wildlife projects and schools. The Lottery has returned more than $2.6 billion to the state of Colorado for these causes since its creation 30 years ago.
Proceeds from the sale of Lottery products are mandated to be distributed according to the following formula: 50% to the Great Outdoors Colorado (GOCO) Trust Fund, 40% to the Conservation Trust Fund and 10% to Colorado Parks and Wildlife. GOCO funds were capped at $59.2 for FY13: any proceeds the Lottery raises beyond that amount go to the Public School Capital Construction Assistance Fund (BEST Program).
“It is exciting to see that our efforts are resulting in an upward trend of proceeds to beneficiaries,” said Barb Brohl, executive director of the Department of Revenue. “Because our proceeds exceeded the GOCO cap, we are able to provide $8.6 million to the BEST program, which goes to address facility safety issues at underfunded public school districts. This is nearly twice the amount from FY12, when we provided $4.6 million to BEST.”
A complete list of projects that were funded with Lottery dollars is available on the Lottery’s website.