The Virginia Lottery generated a record profit after seeing total lottery sales reach an all-time high of $5.5 billion in the 2024 fiscal year.
Of the $5.5 billion in sales for the year ended June 30, a record $4.2 billion was paid out to players and $934 million went to support K-12 public education in the Commonwealth, the highest contribution in the lottery’s 36-year history.
Alongside the record-breaking sales, profit and retailer commissions, the lottery also saw a record low rate for administrative costs, operating at an efficient 3.8 per cent of sales.
“Over the course of my administration, we have been able to achieve record funding for K-12 education, allowing for increased opportunities in the classroom,” said Governor Glenn Youngkin. “I am so thrilled these record profits will help provide the necessary support and resources for Virginia’s students. Approximately 10 percent of Virginia’s K-12 education budget comes from Virginia Lottery profits that assist in funding public schools.”
Virginia Lottery executive director Khalid Jones commented: “The record profits are a byproduct of every Lottery employee’s extreme dedication to our mission of contributing to our K-12 public schools one play at a time. We are pleased that the Lottery was able to deliver for the Commonwealth once again, and in an even bigger way than ever before.”
Virginia Secretary of Education Aimee Guidera added: “Every school district in the Commonwealth benefits from the Lottery Proceeds Fund. Several vital K-12 education programs are supported and approximately one-third of the profits provide discretionary funding for each school district to determine their priority needs.”