Virginia Lottery has most profitable fiscal year ever
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The Virginia Lottery enjoyed its most profitable fiscal year ever, collecting more than $934 million to support K-12 public education in the state, Virginia Gov. Glenn Youngkin announced during an event Aug. 7.
“I am so thrilled these record profits will help provide the necessary support and resources for Virginia's students," Youngkin said.
According to Lottery officials, the record profits were driven by $5.5 billion in sales during Fiscal Year 2024, which ended June 30. Of that amount, a record $4.2 million went back to players as prize money, while another $412 million went to the more than 5,300 Virginia businesses that sell Lottery tickets.
“Customers who buy Lottery tickets at retailers typically make other purchases as well. The Lottery is good for Virginia businesses," said Virginia Lottery Board Chairman Ferhan Hamid.
According to the Virginia Lottery, about one-third of the profits are used as discretionary funding by each school district in the state. In FY2023, Henrico County Public Schools received about $30.7 million from the Virginia Lottery.
