April 5, 2016 – A true Wyoming brand, born and raised in the Cowboy State, the Wyoming Lottery has aspired to bring the fun and excitement of WyoLottoTM to players across the state.
Due to the tremendous success of WyoLotto games, the Wyoming Lottery was able to make its first revenue transfer of more than $1 million to the state on April 5, and begin giving back to the Wyoming communities who have supported WyoLotto from the start.
The first revenue payment follows the earlier-than-expected $2.6 million payoff of the Lottery’s startup loan which was made on January 30.
Jon Clontz, WyoLotto CEO said, “These achievements were done the Wyoming way, with planning and perseverance, as well as dedication from our staff and the tremendous support of our players. Clontz continued, “We were tasked with growing the Lottery without state funding and developing a new sustainable revenue stream for cities, towns and counties, and education. We are proud to say we have accomplished that, and have done so earlier than anticipated.”
For years, Wyoming’s lottery players spent money in neighboring states. With the launch of Wyoming Lottery ticket sales in August 2014, and the introduction of Cowboy DrawTM in March 2015, WyoLotto has successfully kept Wyoming dollars in Wyoming, spent at Wyoming retailers.
With over 1.2 million Wyoming winners and more than $19 million won by WyoLotto players, what began as a startup has become an established Wyoming organization.
Said Clontz, “With help from retailers, board members, staff, legislators, players, and the state of Wyoming, we’ve reached a number of significant milestones in a short amount of time. We see this first payment to the state as a defining achievement in the history of our organization, and the beginning of a new era for WyoLotto and our partnership with Wyoming.”
The initial transfer is larger due to the revenue generated by the increased ticket sales for the $1.6 billion PowerballⓇ jackpot earlier this year, as well as the sales created by the introduction of Cowboy Draw.
Both were also factors which facilitated the early loan payoff. A revenue transfer will now be made to the Wyoming State Treasurer every financial quarter, with the amount dependent on revenue.
Wyoming State Treasurer, Mark Gordon said, “I am looking forward to the opportunity to return the proceeds of Wyoming’s homegrown lottery to our own towns and counties. It is a bright spot at a time when Wyoming is experiencing shortfalls elsewhere.”
Per the state statute, revenue transfers each year will be distributed by the State Treasurer to Wyoming’s 99 cities and towns, and 23 counties. Should revenue transfers exceed $6 million, amounts for that year beyond $6 million will go to the Wyoming Permanent Land Fund’s Common School Account.
Treasurer Gordon added, “Congratulations are in order for the WyoLotto team, the Legislature, and the people of Wyoming who worked tirelessly to make the Wyoming Lottery a reality.”
To increase revenue, the Lottery will look forward to launching a new draw game later this year and research other new game options allowed under state statute.
To receive updates and notifications about the WyoLotto, visit https://wyolotto.com/sign-up/.