Arkansas Lottery anticipates drop in revenue next year
Delays participation in Decades of Dollars game
The Arkansas Lottery Commission approved a new budget Wednesday that takes into account expected reductions in revenue.
Under the budget for the fiscal year that begins July 1, operating revenue would be $459 million, compared to $464 million for the current fiscal year, with $100 million in net proceeds, down from $105 million.
Lottery Director Ernie Passailaigue said the budget for the upcoming year is based on actual revenue.
The com ...
Mar 11, 2011, 10:44 am - Lottery News forum
N.C. Lottery making changes to counter weak sales
Additional draws to be added in Feb.; search narrows for new director
North Carolina lottery commissioners estimated Wednesday the program will earn $40 million less than expected in the current year because of weak ticket sales another financial blow for a state education system already bracing for budget cuts.
The North Carolina Education Lottery Commission revised its sales estimate in approving a new budget. That plan projects the lottery will be able to provide about $402 million for ...
Dec 16, 2010, 9:24 am - Lottery News forum
N.C. Lottery increases prize percentage
Critics decry smaller education 'slice of pie'
Like or loathe the state lottery, there's no question the total amount it generates for education keeps growing. One thing that isn't growing, however, is the percentage that goes to schools. The funding formula keeps changing.
Since its inception, state lawmakers and lottery leaders tweaked the funding formula in an effort to increase ticket sales.
A new report from the nonprofit watchdog group North Carolina Policy Watch shows just how mu ...
Sep 26, 2010, 11:12 am - Lottery News forum
N.C. Lottery grows despite recession
The North Carolina Education Lottery hit the jackpot with its budget this year, significantly increasing funding for salaries and benefits despite uncertain economic times that have stalled similar line items at many private-sector firms and government agencies.
The lottery's new budget, which was approved by the Lottery Commission in mid-June, calls for $17.7 million in salaries, wages and benefits in the coming fiscal year, almost 14 percent higher than what lottery officials spent in the l ...
Jul 20, 2010, 9:10 am - Lottery News forum
Ark. lottery forced to revise budget after law change found
Arkansas' lottery director said Wednesday he wasn't aware that the Legislature changed how money from unclaimed prizes is to be managed a move that required lottery officials to revise their 2011 budget.
The revised lottery budget allocates $11 million less for scholarships and overall revenue is projected to drop by $14 million. However, the lottery has been taking in money above projections, and the original scholarship budget target of $116 million could still be met.
We will do our be ...
Apr 9, 2010, 8:45 am - Lottery News forum
Illinois Lottery may privatize lottery to solve budget woes
The search for revenue to help fix to the state's budget woes has put a spotlight on the Illinois State Lottery.
For more than three decades, the lottery has been a steady, reliable source of revenue for the state. Since 1985, it has brought in more than a half billion dollars annually.
But, just as other state and local governments have sold off assets to help balance their bottom line and avoid tax hikes, the lottery is now being marketed as a potential target for a hybrid brand of priva ...
Apr 5, 2010, 7:03 am - Lottery News forum
Ohio Lottery audit begins next week
State Auditor Mary Taylor officially begins her review of the Ohio Lottery Commission next week, two months after lottery officials tried to close the door on her by arguing that the attention is unwarranted.
Auditors and lottery officials are scheduled to sit together next Wednesday at kick-off meeting during which the approach and scope of the audit will be outlined.
The decision to conduct a performance audit of the $2.4 billion state agency is unusual because such audits are typically ...
Dec 30, 2009, 9:42 am - Lottery News forum
Lottery to the rescue: Will 4-minute Keno fill Washington budget gap?
Washington Gov. Chris Gregoire is seriously considering legislation that would allow four-minute Keno games as a way to help deal with a projected $2.6 billion budget shortfall.
The games could bring in an estimated $30 million a year. That's not much money compared with the budget gap, but lawmakers are hunting for any cash they can find.
Similar bills have been proposed and have died in the past. Things could be different this time, given the severity of the state's budget crisis, but th ...
Dec 7, 2009, 7:52 am - Lottery News forum
Arizona legislators may borrow against future lottery revenue
Voters must extend lottery beyond 2012
State lawmakers already are eyeing another special session on the budget next month, including a proposal to ask voters to extend the Arizona Lottery.
The plan comes even though the Republican-controlled Legislature has yet to give final approval to plans to cut about $300 million in state aid to education and welfare-agency funds.
That effort stalled Thursday when two GOP lawmakers refused to go along with a piece of the package to let state agenc ...
Nov 23, 2009, 10:32 am - Lottery News forum
Maryland Lottery to tackle budget constraints with social media
The Maryland Lottery will rely more on social media and less on D.C.'s massive media market to tout its games as the state slashes its advertising budget.
The state agency said it will look at Twitter, Facebook and other online networking sites to save money after statewide budget cuts slashed its ad spending by $5.5 million. And instead of buying pricey ads on local television stations that reach the entire D.C. market, it may buy Comcast cable ads that target certain neighborhoods, lottery ...
Jul 31, 2009, 8:37 am - Lottery News forum