Ga. Lottery posts record profits in 2012

9:05 AM, Jul 18, 2012   |    comments
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ATLANTA -- The Georgia Lottery Corp. posted record profits in fiscal year 2012, the company announced Wednesday.

Sales for the fiscal year, which ended June 30, totaled $3,834,675,000 -- the highest since the lottery's inception in 1993.

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More than $901 million in lottery profits was transferred to the State Treasury's Lottery for Education Account, surpassing last year's transfer by more than $55.2 million.

"Our success directly impacts Georgia's students and families," Georgia Lottery president and CEO Margaret DeFrancisco said in a statement. "With all Georgia Lottery profits benefiting the HOPE Scholarship and Pre-K programs, our year of record-breaking results is news that all Georgians can celebrate."

The lottery has raised more than $13.6 billion for education in Georgia so far.

"We remain focused on our mission to responsibly maximize revenues for the educational programs we fund," DeFrancisco said. "We will continue to explore new channels to grow revenues for HOPE and Pre-K."

DeFrancisco added that the lottery received a strong boost from the record $656 million Mega Millions jackpot in March.

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