ALBUQUERQUE – The New Mexico Lottery announced today that it has raised half a billion dollars for education since launching in 1996.
Lottery profits came to $500.1 million with October revenues of $3.23 million. October revenues were transferred to the state treasurer on Nov. 30.
“Every time players bought a lottery ticket, they made an investment in our children’s education,” said Tom Romero, New Mexico Lottery chief executive officer. “We are very grateful for the support of players, retailers, vendors and our state’s elected officials. This is their accomplishment.”
“Lottery profits have put college within the reach of so many more people as well as a future of greater opportunity for all of us who make our homes in New Mexico,” said Marcus Rael Jr., Esq., chair of the lottery’s board of directors.
Of the $500.1 million, $66.5 million was used for school construction and repairs between 1996 and 2001. Approximately $433.6 million has been directed to college tuition through the Legislative Lottery Scholarship program.
From 1996 through the spring 2011 semester, more than 75,300 students have received scholarships to attend the state’s 25 public college and universities. More than 34,000 students have earned their college degrees.
In the 2010/2011 academic year, approximately 20,000 students attended college on Legislative Lottery Scholarships.