KAWX News

AR Lottery Continues to Pay Pennies on the Dollar to Scholarships

 

Last month the Arkansas Lottery released its financial report for the month of November.

 

The report shows the Arkansas Lottery took in $37.7 million, but paid out $6.8 million for scholarships — about 18 cents out of every dollar the Arkansas Lottery made in November.

 

This is nothing new. Since Day One, the Arkansas Lottery has failed to budget a meaningful amount of money for college scholarships, even though Arkansans were promised that a statewide lottery would provide at least $100 million in scholarship funding each year.

 

As of right now, the Arkansas Lottery is on track to pay out roughly $85 million in college scholarships in Fiscal Year 2019.

Below is a breakdown of lottery revenue and scholarship proceeds so far this fiscal year.

 

Month Gross Lottery Revenue Paid to Scholarships % Gross Revenue
July $42,413,352.70 $5,066,628.73 11.9%
August 40,343,279.62 6,175,998.40 15.3%
September 35,198,809.72 7,783,450.82 22.1%
October 57,575,285.62 11,259,040.31 19.6%
November 37,700,016.00 6,821,411.01 18.1%
Total $213,230,743.66 $37,106,529.27 17.4%

 

1-11-19 10:11 a.m. kawx.org 

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