Florida Lottery Ranked Second In the Nation For Efficiency
By Space Coast Daily // August 28, 2015
TALLAHASSEE, FLORIDA – The Florida Lottery announced that the LaFleur’s 2015 World Lottery Almanac, an internationally recognized lottery industry publication, has ranked it the second most efficiently operated lottery in the country with administrative expenses of just 2.8 percent behind Massachusetts with operating expenses of two percent.
For comparison, lotteries similar in size such as the New York and California Lotteries have operating expenses of 15 percent and 5.6 percent respectively.
The Florida Lottery’s success can be attributed to its effective implementation of an entrepreneurial business model that focuses on the development of new revenue streams and creates a win-win partnership with its private-sector partners.
The Lottery constantly evaluates its operating expenses, a practice that has resulted in the department maximizing profits while having one of the lowest expense rates among all domestic lotteries.
Lottery contributions to education have made a significant impact with more than $1 billion being transferred annually to the EETF for the past thirteen consecutive fiscal years, representing approximately six percent of the state’s total education budget.
“The Florida Lottery remains committed to operating as efficiently and effectively as possible on behalf of all Floridians and we will continue to implement cost-saving measures and increase business efficiencies wherever possible,” said Florida Lottery Secretary Cynthia O’Connell.