KATV Channel 7 - The Spirit of Arkansas: Lottery proceeds $3.8 million below director's prediction

A year-end report on the state lottery shows that the lottery generated $94.2 million for college scholarships in the fiscal year that ended June 30 — nearly $4 million less than the lottery's director predicted less than two weeks ago.

Also, the state Department of Higher Education said today it is projecting that 1 in 4 people who received scholarships funded by the lottery last year will not retain them in the coming school year.

The lottery's year-end report was submitted Monday to the legislative committee that oversees the program. Lottery Director Ernie Passailaigue had said June 30 he expected net proceeds for the past fiscal year to total $98 million, or $7 million less than his original projection a year earlier of $105 million.