(Little Rock) (AP) – The Arkansas lottery generated $89.1 million for college scholarships in the fiscal year that ended June 30, but that’s about 10% less than projected in the budget the lottery proposed the year before.
Numbers released Wednesday show that gamblers bought almost $42 million less in scratch tickets for the fiscal year.
Because of revenue shortfalls, legislators this year altered the formula for scholarship awards, giving university freshmen $2,000, with the amount rising by $1,000 annually through their senior year.
Lottery director Bishop Woosley has been working to promote draw games, such as Powerball and Mega Millions. Those games had revenue almost $1 million more than expected but still accounted for only 17% of spending by players.
Gross revenue was $440 million compared to the projected $481 million.