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Tuesday, October 23, 2012 at 01:00PM
TRENTON, NJ – (October 23, 2012) During the first quarter of Fiscal Year 2013, the New Jersey Lottery provided $226 million in support to State programs and institutions. This represented a 5.7 percent increase over the prior year and was made possible by a 7.1 percent gain in sales during the quarter to $672 million.
“This remarkable performance by the Lottery in the quarter ended Sept. 30 brings its cumulative contribution to the State during the 41 years of its existence to $21.198 billion,” said New Jersey Lottery Executive Director Carole Hedinger.
“The Lottery’s mission continues to be generating maximum revenue for the State programs and institutions it supports,” Hedinger said, adding, “these initiatives improve the quality of life for many New Jersey residents.” Lottery funds help provide student tuition scholarships and grants and finance school nutrition efforts, homes for veterans, operating aid for senior public educational institutions, capital improvement initiatives, the Marie Katzenbach School for the Deaf, the operation of centers for the developmentally disabled and state psychiatric hospitals. “The Lottery’s support for these essential programs and institutions reduces the public’s tax burden and enhances services for all New Jerseyans.” Hedinger said.
The Lottery also plays a central role in the New Jersey economy. Nearly 6,700 lottery retailers sell Lottery products in their stores. In Fiscal Year 2012, Lottery retailers earned approximately $153.7 million in commissions. Retailer commissions for the first quarter of FY13 were $37.46 million, more than $2.47 million higher than in the prior year. Lottery retailers also benefit from the increased traffic to their stores that Lottery products generate.
Every day, the Lottery helps create winners by providing entertainment and winning jackpots for lottery players, supporting the members of the business community who serve as Lottery retailers, and generating financial support for State programs and institutions.
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