NM Lottery revenue continues to slide
Posted at: 08/21/2012 8:00 AM
By: The Associated Press
ALBUQUERQUE, N.M. (AP) - The New Mexico Lottery generated $41 million for college scholarships in the latest fiscal year, but revenues continue to slide.
The lottery's profits in the 2012 budget year, which ended in June, were roughly the same as the previous year.
Net ticket sales were $133.8 million, down by 1.3 percent.
Lottery officials say revenues were bolstered by a Powerball ticket price increase and sales in March when there was a record jackpot with the Mega Millions multi-state lottery game.
Total lottery revenues peaked at $151 million in the 2006 fiscal year, and have declined five out of the last six years.
State law requires at least 30 percent of lottery revenues go to the scholarship program, which covers tuition for New Mexico students attending state public colleges and universities.
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