Oklahoma City, OK – Okla. lottery officials predict drop in earnings
OKLAHOMA CITY (AP) The head of the Oklahoma Lottery Commission expects lottery earnings for education to decline 8 percent a year for the next four years.
According to figures approved Tuesday by lottery trustees, the lottery's projected earnings are $66.1 million by the end of this fiscal year and $47 million by the 2015 fiscal year. According to a story in The Oklahoman, total lottery sales are expected to produce about $188.8 million this fiscal year, and then decline to $134 million by the 2015 fiscal year.
State law requires 35 percent of lottery earnings go to education, which Executive Director Jim Scroggins says limits what officials can do with prizes.
Lottery trustees appealed to lawmakers to eliminate the 35 percent restriction, but legislation addressing the issue didn't advance this past session.
Information from: The Oklahoman, http://www.newsok.com