New Mexico Lottery raises over $41m for scholarships

ALBUQUERQUE, N.M – The New Mexico Lottery raised $41.3 million for college scholarships this fiscal year. Officials say that’s the second-highest profit for the lottery after last year’s record $43.6 million.

Since launching in 1996, the New Mexico Lottery says it has raised $487.4 million for education and more than 68,000 students have attended college on Legislative Lottery Scholarships.

The year’s profits equal 30.5 per cent of gross operating revenues. By law, the lottery is required to return at least 30 percent of monthly gross revenues to the state’s tuition fund.

Despite the high amount raised for college scholarships in the state, net ticket sales of $135.5 million were down $8 million from $143.6 million last year.

Published: August 4, 2011

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