Arkansas Lottery revenue at record $500M

wireready_07-11-2018-16-18-02_02793_arkansas_scholarship_lottery

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 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 it’s challenging to
increase the return for scholarships each year because players were quickly
introduced to higher price point tickets with 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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