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NC Lottery Exceeds Education Profit Expectations

7:40 PM, Jul 1, 2009   |    comments
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Raleigh, N.C. -- The North Carolina Education Lottery has exceeded its moneymaking projections for another year.

The lottery announced Wednesday it transferred almost $411 million to a special education fund from revenues generated during the fiscal year that ended Tuesday. That's more than the $385 million that lawmakers had been told to expect from the games.

Gross ticket sales also reached nearly $1.3 billion for the year, or about $25 million than predicted.

It's the second year in a row that the lottery met or exceeded expectations. The state received $350 million for education a year ago.

Net proceeds from the 4-year-old lottery go to reduce class sizes, expand preschool, help with school construction and provide college scholarships.

 

AP

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