Stephens backs lottery | Arkansas Blog

Stephens backs lottery


Until now, real estate man John Bailey and family have provided virtually all the financing, more than $425,000, for the state lottery campaign. The campaign announced today that financier Warren Stephens had pitched in $50,000.


Little Rock -- Hope For Arkansas, the Scholarship Lottery for Higher Education, submitted its monthly financial report today to the Arkansas Ethics Commission, listing a $50,000 contribution by Little Rock businessman and CEO of Stephens, Inc, Warren Stephens. Lieutenant Governor Bill Halter expressed his appreciation to Stephens and to additional private donors who have contributed to the HOPE For Arkansas initiative.

"I am extremely grateful to Warren Stephens for his support of this important initiative," Halter said. "Like many other Arkansas business leaders, he has excellent understanding of how to expand our state's educated workforce and attract the better-paying jobs of the 21st Century. His generous contribution will support the hopes and opportunities of future generations of Arkansans."

On July 22, the secretary of state's office certified a proposed constitutional amendment for the November ballot that would allow voters to decide on a state-run lottery to fund college scholarships. The proposed constitutional amendment directs proceeds from the lottery for scholarships and grants to Arkansas citizens enrolled at Arkansas two- and four-year colleges.

To date, the HOPE For Arkansas campaign has raised $552,917.24 and spent $ 485,114.73 in its work on the ballot initiative campaign. For the month of July, the ballot initiative raised $75,000 and spent $22,538.09.


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