Arkansas Lottery revenue at record $500M - KAIT Jonesboro, AR - Region 8 News, weather, sports

Arkansas Lottery revenue at record $500M

(Source: Arkansas Scholarship Lottery website) (Source: Arkansas Scholarship Lottery website)

LITTLE ROCK, Ark. (AP) - The Arkansas Scholarship Lottery raised nearly $92 million for college scholarships in fiscal 2018, the third-largest amount raised in its nine years of operation.
    
The Arkansas Democrat-Gazette reports that the lottery also collected a record $500.4 million of revenue in the fiscal year that ended June 30.
    
The lottery has been operating since 2009, helping finance more than 30,000 Arkansas Academic Challenge Scholarships during each of the first eight fiscal years. Lottery Director Bishop Woosley said Tuesday that it's challenging to increase the return for scholarships each year because players were quickly introduced to higher price point tickets that have lower margins.
    
Information on the total scholarships awarded in fiscal 2018 wasn't available to the newspaper Tuesday, but the lottery reported the figure last month at $91.8 million for more than 34,900 students.
    
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Information from: Arkansas Democrat-Gazette, http://www.arkansasonline.com

(Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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