Driven by the success of Tennessee-only draw style and instant games this fiscal year, the Tennessee Education Lottery Corporation (TEL) today announced it has raised $5,503,978,000 for education in Tennessee since January 20, 2004.
The TEL closed FY 2020 with its best quarter (4Q, April 1 - June 30, 2020) since inception, transferring $118,263,000 to the Lottery for Education Account.
For all of FY 2020, the TEL recorded its highest gross total revenues of $1.84 billion, generating a total of $438,229,000 for education in Tennessee, including $17,605,000 for after-school programs.
"We find ourselves in unique times, but our mission remains the same: to serve Tennessee by generating proceeds for education," TEL President and CEO Rebecca Paul Hargrove said. "Throughout this spring and summer, we stayed focused on our mission. I am incredibly grateful for our committed retailers, passionate players, Board of Directors and the dedicated team at the TEL who made this possible for Tennessee students."
Additional highlights from FY 2020 include:
- The $420.6 million transfer to the Lottery for Education Account exceeds the February estimated range of $410-418 million in proceeds;
- Tennessee-only draw style games, which are Cash 3, Cash 4, Tennessee Cash and Keno To Go, and instant games grew 8.2 percent and 7.4 percent over FY 19 respectively; and
- The total revenues of $527.3 million for 4Q FY 2020 were the highest of any quarter since inception.