Jun 10, 2020
GOCO to Receive More Than $70 Million in Proceeds Funding from the Lottery
After a decline in sales of upwards of 20% due to COVID-19 and Colorado’s Stay at Home Order, the Colorado Lottery experienced a resurgence as consumers resumed more normal shopping habits, and today it celebrates the milestone of reaching the funding cap for Great Outdoors Colorado (GOCO). This year the Lottery will provide $70,364,774 million in proceeds dollars to GOCO to fund parks, recreation, conservation and open space projects.
To date, the Colorado Lottery has given back $3.5 billion to the Colorado outdoors, with approximately 22 to 24 cents of every dollar spent on Lottery games being reinvested in our state. Of the available proceeds, 50% is committed to GOCO up to the cap, 40% to Colorado Parks and Wildlife and 10% to Conservation Trust Fund. Once the GOCO cap is reached, 50% of each additional proceeds dollar spills over to the Building Excellent Schools today (BEST) fund. Set at $35 million in 1992, the cap is adjusted annually for inflation.
“We are very thankful for our loyal players and retailers who help us support all of the important statewide projects funded by GOCO and other proceeds partners,” said Tom Seaver, director of the Colorado Lottery. “Retailers who remained open during the state shut down continued to make tickets available to our players, all of which helped us meet the cap to support GOCO’s commitment to help build new parks and recreation, trails and fund open space conservation projects, as well as school infrastructure.”
Another factor in Lottery’s success in meeting the cap during the pandemic, Lottery Scratch games have seen unprecedented growth the last few years. Colorado Lotto+ has also seen strong growth since it launched Sept. 2019. Increased Scratch and Colorado Lotto+ sales helped replace decreased Mega Millions and Powerball sales, due in part to low jackpots. National draw games also took an additional hit this year due to the coronavirus. In April, the Lottery suspended advertising, and starting jackpots no longer reset to $40 million, but instead were reset based on sales after each drawing to remain viable.
“Many partners, including local governments, nonprofit land trusts, and Colorado Parks and Wildlife, rely on GOCO funding to enrich Colorado communities and connect more people to our great outdoors. The Lottery and its players help GOCO invest in everything from new and improved parks and trails to local fairground upgrades and conserved lands that benefit our state's people and wildlife,” said Chris Castilian, GOCO executive director. “We are so grateful to the Lottery and celebrate your hard work and this achievement. More conservation and recreation projects that impact Coloradans’ quality of life, and that help build stronger local economies, will be realized thanks to you!”