The Georgia lottery has collected record profits.
Governor Brian Kemp announced last week that the Georgia Lottery has transferred its fiscal year (FY) 2019 profits – a total of $1,207,369,000 – to the State Treasury’s Lottery for Education Account, marking the largest annual transfer in the Georgia Lottery’s 26-year history. Now, the total funds raised for education amounts to more than $21 billion.
“Over the years, the Georgia Lottery has afforded countless educational opportunities for families, providing our children with strong early learning foundations and keeping our best and brightest high school students in state through scholarship funding,” Governor Kemp said in a press release. “Today’s announcement represents a record-breaking investment in our students, workforce, and economy.”
Georgia Lottery profits fund-specific education programs, including Georgia’s HOPE Scholarship Program and Georgia’s Pre-K Program. More than 1.8 million students have received HOPE, and more than 1.6 million four-year-olds have attended the statewide, voluntary pre-kindergarten program.
“Our success is a team effort that benefits all Georgians,” Georgia Lottery President and CEO Gretchen Corbin said in the same news release. “We appreciate the support of Governor Kemp and the legislature, the leadership of our board of directors, the dedication of our employees, retail partners and business partners, and the enthusiasm of our players.”
FY 2019 marks the fourth consecutive year that the Georgia Lottery has surpassed $1 billion in profits for education and the eighth consecutive year of growth in profits for education.
Last year, the Georgia Lottery Corp. transferred its fiscal year 2018 profits, a total of $1,143,514,000, to the State Treasury’s Lottery for Education Account which brought fundraising for education programs to over $19.8 billion during the 25-year history of the Georgia Lottery