SACRAMENTO — The California Lottery announced Gold Ranch Lottery as the California Lottery's Retailer of the Month for February 2003. The ceremony is scheduled for Tuesday, January 14th at 1:00 PM. and it will be held at Gold Ranch Lottery in Verdi. The Gold Ranch Lottery is a subsidiary of Gold Ranch Casino and RV Resort and is affiliated with The Sands Regency Casino and Hotel in Downtown Reno.
Gold Ranch averages nearly $90,000 in Lottery sales per week and has total sales-to-date of more than $4.5 million. While Gold Ranch Lottery had been in existence for several years, it recently came under new ownership in May of 2002. With a minimum of 34 percent of all Lottery ticket sales benefiting public education, Gold Ranch has contributed more than $1.5 million to California's public schools since May of 2002.
Gold Ranch Lottery Manager Sheila Clark, together with DSR Donna DePauw, has made it the success it is today. "The lottery puts us in a 'win-win-win' situation because the retailers win with sales, the schools win with the lottery's contribution and the players become winners," explained Clark. In addition to their incredible success, Gold Ranch never forgets to support local charities throughout the year and are particularly involved in the Boys and Girls Club of Truckee Meadows.
Gold Ranch Lottery is the Lottery's highest volume retailer in Northern California and has seen its share of winners as well as sales. In the last year, Gold Ranch has had several Fantasy 5 winners, a $29 million SuperLotto Plus winner and a few days after that, a $75,000 Xtra Reward winner. They have also seen their share of ticket sales with the current $38 million SuperLotto Plus jackpot. A single jackpot winner of $38 million would receive 26 annual payments with the first payment equaling $950,000 and the 26th payment being more than $1.93 million (before federal withholding). The estimated cash value would equal roughly half of the jackpot, $19 million or the amount the lottery would invest to payout the jackpot prize over 26 years. In the event of the death of a winner, the full prize is paid to the estate of the winner.
The California Lottery sells its products through a network of more than 18,000 outlets statewide. The Lottery provides 52.7 percent of its revenues to players as prizes, 34.1 percent to public schools and 13.2 percent for administrative expenses, which includes 6.9 percent for retailer commissions. Since 1985, the Lottery has raised more than $14 billion for public schools. The Lottery's contribution equals approximately 2 percent of the state's total education budget.
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