Richmond, VA. (NewsradioWRVA.com) - There were record-setting profits at the Virginia Lottery for Fiscal Year 2022 . That means the big winner was K-12 public education in Virginia. Lottery profits totaled nearly $779.6 million in the year ending on June 30. Every dollar of profit generated by Virginia Lottery sales is constitutionally required to go to K-12 public education.
The FY22 results were revealed Tuesday in the form of a large check that Virginia Lottery Executive Director Kelly Gee presented to the Commonwealth’s Secretary of Education Aimee Rogstad Guidera.
“Solid business practices supported by a broad offering of games to our players and the opportunity for our valuable retail partners to earn commissions and bonuses are what led to this record year,” said Virginia Lottery Executive Director Kelly Gee. “We had positive impacts in every corner of the state, from players winning record amounts of prizes to retailers benefitting from their ticket sales. All of this means great news for our K-12 public schools.”
“Lottery funds traditionally make up roughly ten percent of Virginia’s overall K-12 education budget and support vital programs in every school district in the Commonwealth,” said Secretary of Education Aimee Rogstad Guidera. “These funds are indispensable to our efforts to ensure every student in the Commonwealth—regardless of zip code—is prepared for success in life.”
The $779.6 million in profits averages out to more than $2.13 million per day raised by the Lottery for K-12 public schools in the Commonwealth.