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Lotto dream turns to dustNews Story
Some unlucky winner bought a Florida Lotto ticket worth $50 million in March, but lost his or her chance to cash it when the clock struck 12:01 a.m. on Tuesday.The chance to claim the $50 million prize expired six months after the drawing March 12. Although previous Lotto prizes have gone unclaimed, this is the largest ever in the 15-year history of the Florida Lottery.The last big one was $15 million in 1991.Theories abound about why someone would let that kind of money go, but the prevalent on
Sep 10, 2003, 4:11 am - Lottery News

Tenn. may pay Paul 6 times what Calif., Texas, Fla. pay lottery chiefsNews Story
Package: $350,000 salary and up to $402,500 in bonusesTennessee's new lottery director will make at least three times the salary and perhaps as much as six times more than the directors of many of the nation's largest state lotteries, a Tennessean survey of lotteries shows.Georgia lottery director Rebecca Paul, who was tapped during the weekend to head Tennessee's new lottery, will receive a base salary of $350,000. This compares with $134,000 in New York, $123,255 in California and $110,000 in
Sep 10, 2003, 4:07 am - Lottery News

Paul recommends maximizing lottery prizesNews Story
Increasing lottery prizes by changing the law that sets aside nearly a third of game proceeds for scholarships will ultimately lead to more money for Tennessee students, the state's new lottery chief said Tuesday. Rebecca Paul, speaking to reporters a day after being named CEO of the state's new lottery, said she already has contacted several legislators about changing the lottery statute so that officials will have the flexibility to maximize the money going toward college awards.Currently, lot
Sep 10, 2003, 4:05 am - Lottery News

Last hours for unclaimed $50 million Florida Lotto ticketNews Story
A $50 million FLorida Lotto jackpot winner either isn't aware of his fortune or was waiting almost literally to the last minute to claim the prize. If the single winning ticket holder of the March 12 jackpot doesn't claim the prize by 12:01 a.m. Tuesday, the money goes back to the Lottery. That would be a bummer, said Lottery spokeswoman Sheila Griffin.The ticket was sold in Miami-Dade County at Kohl's Food Market in North Bay Village. I think somebody lost that ticket, no doubt about it, said
Sep 9, 2003, 3:58 am - Lottery News

Texas Lottery sales climb by more than 5 percentNews Story
Texas Lottery sales grew by the largest margin in six years, jumping 5 percent in the 2003 fiscal year, the Texas Lottery Commission said Monday. Sales were $3.13 billion for the fiscal year ending Aug. 31, compared to $2.96 billion in the previous year, said Reagan Greer, executive director of the commission. This represents the largest increase since 1997.Of the $955.2 million that was transferred to the state, $888.1 million went to the Foundation School Fund, Greer said.Another $67 million
Sep 9, 2003, 3:56 am - Lottery News

New lottery chief gets jackpot, too, if she hits the numbersNews Story
Industry-heralded lottery czar Rebecca Paul could be paid just over $750,000 if:Next year's Tennessee Lottery sells its first scratch-off tickets by Feb.17.Sells its first online tickets 60 days later.And clears $122 million for education by July 1.Those ambitious goals are built into a base- and incentive-pay package worked out with Paul over the weekend by the Tennessee Lottery Board to lure her away from a $500,000-a-year post as chief executive officer of the Georgia Lottery to the same posi
Sep 9, 2003, 3:44 am - Lottery News

Tenn. Lottery Could Include Satellite NetworkNews Story
A legislative sponsor of Tennessee's lottery law says the game could be a high-tech operation when retailers start selling tickets.State Rep. Chris Newton of Cleveland says retail outlets may be connected to the lottery's online games by traditional phone lines, but other technologies could be featured. He says the technology is there to do the satellite hookup.A mid-February or later starting date is projected since the Tennessee lottery board rejected a joint operating deal with Georgia.Tennes
Sep 8, 2003, 2:36 pm - Lottery News

Miller, Barnes say Paul will be missed at Georgia lotteryNews Story
A Georgia lottery that could fall short of funding two nationally acclaimed education programs in as little as three years now must operate without the woman who guided it for 10 years. Rebecca Paul said Monday she is leaving to run the Tennessee games.Shes the best lottery director in the world and she will be greatly missed in Georgia, said Sen. Zell Miller, who led the push to establish the lottery when he was governor, and was instrumental in luring Paul from Florida to start Georgias games
Sep 8, 2003, 2:32 pm - Lottery News

What if group buys winning lottery ticket?News Story
Q: We are a financial club that invests in the stock market and also buys weekly lottery tickets. We all contribute and one member buys the tickets. It's wishful thinking, but what if the ticket wins $1 million? What are the payment basics and how can we protect ourselves against the ticket purchaser claiming the winnings for himself?-- Hopeful in Hialeah A: Let's first talk business law, and then we'll suggest some precautions to assure proper division of payment.A lottery ticket is a unilater
Sep 8, 2003, 3:57 am - Lottery News

Giant lottery operator GTECH wants to add Tennessee to its clienteleNews Story
Financial advisers have long said that lottery players would fare better investing their money in the stock market than hoping the pingpong balls pop up with their numbers.If you followed that advice and bought stock in the largest lottery operator in the country, GTECH Holdings, over the past decade, chances are the investment would have paid off better about 500% better.The West Greenwich, R.I., company's stock price has doubled in the past year, closing Friday at $42.77; GTECH's revenues have
Sep 8, 2003, 3:49 am - Lottery News