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Powerball Blamed for Lower Lottery Sales
Comments 0 | Recommend 0Tennessee officials are hedging their bets on Powerball to lift the lottery out of a slight sales slump that could hurt revenue projections for education.
Lottery CEO Rebecca Paul Hargrove says lottery sales have been running about $400,000 less per week than last year since the fiscal year began July 1.
She blames Powerball. The jackpot went over $300 million at one point last year but hasn't reached that level yet this year. And bigger jackpots increase sales.
The Knoxville News Sentinel reports the lottery chief told Gov. Phil Bredesen in budget sessions Monday in Nashville that the lottery is now projecting about $288.6 million in revenues for education this fiscal year.
That's about $2.5 million more than last year, but about $3.5 million less than earlier estimates.
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