(P
ierre)
– The South Dakota Lottery raised more than $115.5 million in revenue for
the state in fiscal year 2004 – a 3.3% increase over the previous year
and a new record since the lottery began in 1987.
Clint Harris, executive director of
the lottery, said a number of factors contributed to the record
revenues. “Four big Powerball jackpot runs, great sales of scratch
tickets during the holiday season, and slow steady growth of video
lottery revenues were the biggest reasons for our record year,” he said.
Lotto ticket sales increased 22.9%
overall in FY04, reaching nearly $18.88 million in sales. Sales of lotto
tickets raised $4.82 million in revenue in FY04. The first $1.4 million
of revenue goes to the state’s general fund, with the balance of $3.42
million going to the state’s capital construction fund. The capital
construction fund is used to fund ethanol production incentives, water
and environment projects, and state highway projects.
Scratch ticket sales also showed a
strong year, increasing 14.9% to reach $15.26 million in FY04. Those
sales returned $3.4 million in revenue to the state’s general fund.
Video lottery revenue grew 2.1% in
FY04, and generated $107,294,446 for the property tax reduction fund from
net machine income, and $30,000 to the state general fund from certain
licensing fees.
The Lottery has raised more than $1.2
billion in revenue for the state since it’s inception in 1987.
Multi-State Lottery Association sales
comparisons showed that South Dakota had the highest rate of sales
increase in FY04 of all participating states in all three multi-state
lotto games the Lottery offers.
South Dakota Powerball ticket sales
increased 26.8% for FY04 drawings, beating sales increases in all 24
other lotteries that also offered the game for the complete FY03.
While big Powerball jackpot runs
helped produce the largest amount of lotto ticket sales, the Lottery also
had significant sales increases in the two other multi-state lotto games:
Hot Lotto and Wild Card 2.
-- more -- Click here
