Georgia Lottery Amasses $367.2M In Profits For Last Quarter

By T.A. DeFeo | The Center Square contributor, The Center Square Georgia

May 6, 2022

(The Center Square) — "The Georgia Lottery brought in more than $367.2 million in profits during the third quarter of fiscal 2022," state officials said.

For the first three quarters of fiscal 2022, between July 1, 2021, and March 31, the lottery transferred more than $1.1 billion to the state’s Lottery for Education Account. Since its inception, the lottery has transferred more than $24.6 billion to the state.

"Our solid third-quarter performance is great news for the citizens of Georgia, including the students and families who continue to benefit from Georgia’s HOPE Scholarship and Pre-K programs," Georgia Lottery President and CEO Gretchen Corbin said in an announcement.

Georgia Lottery profits pay for educational programs, including the state’s HOPE Scholarship Program and its Pre-K Program. According to a news release, more than 2 million students have received a HOPE Scholarship, and more than 1.6 million have participated in the state’s prekindergarten program, which is voluntary.

"This strong quarter ensures the Georgia Lottery continues to be a leading source of funding for education in the Peach State," Gov. Brian Kemp said in an announcement. "These funds have had an immeasurable impact on generations of Georgians, whether setting them on the path to lifelong learning or helping them better themselves through the pursuit of higher education."

The focus of the work of The Center Square Georgia is state and local-level government and economic reporting that approaches stories with a taxpayer sensibility.