The Georgia Lottery on Wednesday announced record profits for the first quarter of fiscal year 2020, transferring $291.61 million to the state treasury.
That total surpasses last year’s record Q1 by more than $6 million, and also has it on pace to match last year’s record $1.21 billion total transfer.
“We are extremely proud of the success we’ve had in maximizing revenues for HOPE and Pre-K,” said Georgia Lottery President and CEO Gretchen Corbin. “Our record first quarter is a great foundation to build upon for the remainder of fiscal year 2020 and a reminder of all the support we receive from our players, retailers and partners.”
Since its inception the lottery has returned more than $21 billion to the state for education, most notably the HOPE scholarship and Georgia’s Pre-K program. Nearly 2 million students have received HOPE, and 1.6 million children have attended its statewide prekindergarten programs.
The lottery’s smashing success will likely figure into the upcoming casino gaming debates at the Georgia Capitol, where hearings are currently underway to examine the possible economic benefits of allowing casino gaming, sports betting, and horse racing.
Governor Brian Kemp has said he is personally opposed to the idea of legalizing gambling, but will not stand in its way as long as its revenues are guaranteed to help fund HOPE.
That option likely feels more and more appealing as the state, under Kemp’s direction, looks to cut costs heading into 2020.
