Lottery revenue for scholarships drops to $41M

ALBUQUERQUE, N.M. (AP) – The New Mexico Lottery generated $40.9 million for college scholarships in the most recent fiscal year.

However, the lottery said that’s down about 6 percent from a record-setting $43.7 million a year earlier.

Net lottery ticket sales were $136 million in the 2014 fiscal year ending June 30, compared with $141.8 million in 2013.

The lottery said sales exceeded the agency’s budget projections by $4.6 million, despite being lower than the previous year.

Lottery officials attributed the revenue decline to smaller Powerball jackpots, which didn’t drive ticket sales as high as a year earlier.

Lottery sales have declined seven out of the last 10 years.

State law requires at least 30 percent of lottery proceeds go to the scholarship program, which helps pay tuition for New Mexico college students. provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Users who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s