SANTA FE, N.M. (KRQE) – The CEO of the New Mexico Lottery is looking to cut scholarship payments.
According to the Santa Fe New Mexican, the lottery sends 30% of gross sales to a fund that pays partial tuition for in-state higher-ed students. In a legislative finance committee hearing last week, CEO David Barden said the threshold should be lowered so the lottery can pay out more in prizes.
He says that would lead to more people playing and ultimately, generating more revenue for the scholarship fund. The legislature would need to pass a bill to make this change but Barden said he’s not expecting legislation to be introduced in the upcoming session.
