Arkansas Lottery Earns $12 Per Second, Still Failing
From July 1 through November 30, 2014, the Arkansas Lottery earned an average of $11.86 every second–but the Lottery is still failing.
According to financial reports published on the Arkansas Lottery’s website, the lottery earned roughly $156.8 million in gross revenue during the first five months of its fiscal year that began last July. That’s an average of $1 million every day! However, lottery revenue is still more than $7 million behind budget.
Even more concerning, the Lottery is more than $2.5 million behind in scholarship funding for the year, and appears–once again–to have reduced the percentage of gross revenue paid out for scholarships.
|Month||Gross Lottery Revenue||Paid to Scholarships||% Gross Revenue|