The Georgia Lottery Corp. and the Tennessee Education Lottery Corp. both recently announced record profits for the 2020 fiscal year, which ended June 30.
Georgia Lottery Vice President Brad Bohannon said sales initially dropped in March as Covid-19 restrictions were implemented. But sales rebounded and the state received a record $1.24 billion for the fiscal year. It was the ninth consecutive year the lottery has set sales and profit records.
Bohannon said online lottery sales increased 50 percent in April and early May. Most of the lottery’s retailers remained open, benefiting from limited entertainment options due to Covid-19.
Lottery President and CEO Gretchen Corbin noted beating the 2019 record was a notable accomplishment, since a record $1.5 billion jackpot in the multistate MegaMillions lottery spurred enormous sales. “Our team has been laser focused on delivering the greatest amount possible to the state in a year where we first focused on outpacing 2019, the year of one of the largest jackpots in history, and then added COVID-19 challenges to our goal to surmount,” Corbin said.
Proceeds from the Georgia lottery finance the Hope Scholarship program and preschool classes.
The Tennessee Education Lottery Corp. posted record revenue for the 2020 fiscal year of $1.84 billion–the highest total since the lottery began in January 2004. It was a slight increase over fiscal 2019’s $1.81 billion in revenue. The state of Tennessee received $438.2 million for education, including $17.6 million for after-school programs.
TEL President and CEO Rebecca Paul Hargrove said, “We find ourselves in unique times, but our mission remains the same: to serve Tennessee by generating proceeds for education.. Throughout this spring and summer, we stayed focused on our mission. I am incredibly grateful for our committed retailers, passionate players, board of directors and the dedicated team at the TEL who made this possible for Tennessee students.”
Hargrove said sales of draw-based games like Cash 3, Cash 4, Tennessee Cash and Keno To Go increased 8.2 percent year-on-year. Instant win games sales rose 7.4 percent. The fourth quarter of the fiscal year—April 1 through June 30—was the strongest in the lottery’s history with revenue of $527.3 million including $118.3 million for education.
