The Georgia Lottery Corp. has announced that fiscal year 2017 first-half and second-quarter profits have reached their highest since inception in 1993. According to a media release, “profits for the first half of fiscal year 2017 soared to $541 million – $24.5 million ahead of last year’s record. Second-quarter profits transferred to the State Treasury’s Lottery for Education Account will amount to $267.4 million, surpassing last year’s second-quarter transfer by more than $4.8 million.”
“This brings the total raised by the Georgia Lottery for educational programs in the state of Georgia to more than $18.1 billion since the lottery’s inception in 1993,” the release said.
The Georgia Lottery’s record first half follows a record fiscal year. In fiscal year 2016, InsiderAdvantage reported that lottery profits for education surpassed the billion-dollar mark for the first time in a single fiscal year with nearly $1.1 billion raised.
The first half of the Georgia Lottery’s fiscal year spanned from July 1, 2016, to December 31, 2016. Fiscal year 2017 first-half profits also include funds generated from coin operated amusement machines (COAMs).
