Illinois Is Putting Lottery on Block for Quick Payoff
The state of Illinois yesterday took the first steps in selling its state lottery system, hoping to attract as much as $10 billion from investors who, in return, would own a monopoly that could turn out to be the biggest jackpot yet.
The sale, which may occur as early as the spring, would not be the first privatization of public property - both Chicago and Indiana have recently earned billions of dollars by signing long-term leases with private companies to run toll roads. But the proposed l ...
Jan 23, 2007, 8:11 am - - Lottery News forum
Bill to outsource Indiana Lottery bans keno, video poker
Many upset over Governor's plan to 'sell the Lottery'
A bill that would allow Gov. Mitch Daniels to outsource the Hoosier Lottery would prohibit a private operator from offering keno, video lottery games, pari-mutuel wagering on horses or dogs and games based on winners of races or other sporting events.
Sen. James Merritt, R-Indianapolis, filed the bill Thursday on behalf of the administration but said he was allowed to put his own principles in it and was not in favor of such gambling ex ...
Jan 19, 2007, 12:00 pm - - Lottery News forum
Maryland Lottery changing broadcast network
The Maryland Lottery drawings will have a new home next month.
The state Board of Public Works today is expected to award WBAL TV a four year, $10 million broadcasting contract to televise the drawings. The Maryland Lottery has been on WJZ TV for the last 12 years.
WBAL TV will get about $2.5 million a year to show the drawings, up from the $1.4 million the state currently pays.
Lottery director Buddy Roogow says WBAL pledged to advertise the games more frequently and air drawings on th ...
Dec 20, 2006, 2:21 pm - - Lottery News forum
N.J. Lottery throws out GTECH contact
State to rebid lottery deal as lobbyist concerns arise
Seeking to erase concerns the state's long-time lottery vendor might have enjoyed an inside edge in winning its latest contract, New Jersey state treasurer Bradley Abelow announced yesterday the state will rebid the job for the third time in 15 months.
Abelow ended special hearings that have been going on before former state Supreme Court Justice Daniel O'Hern Jr. and said the department will move quickly to solicit new bids.
Du ...
Oct 21, 2006, 11:53 pm - - Lottery News forum
GTECH explains pricey N.J. Lottery contract
Seeking to justify a price tag of nearly $32 million more than a competitor to run the New Jersey's lottery for the next five years, representatives of the state's lottery operator said Wednesday that their system is more convenient for vendors and would result in less down time and lost revenues for the state.
Representatives for GTech, which won a new contract despite bidding $106.7 million to Scientific Games' $75 million, said the higher price comes with more assurance that its terminals ...
Oct 12, 2006, 2:48 pm - - Lottery News forum
Criminal probe sought in award of NJ Lottery contract
A New Jersey Assembly Democrat has asked for a criminal investigation into the role a Republican assemblywoman and her former lobbying firm played in helping the state's lottery operator gain a new contract despite bidding nearly $32 million more than a competitor.
Assemblyman Reed Gusciora, D-Princeton, sent a letter Sept. 29 to Gregory A. Paw, director of the state Division of Criminal Justice, asking for an investigation to determine whether Assemblywoman Jennifer Beck, R-Red Bank, and her ...
Oct 10, 2006, 9:03 am - - Lottery News forum
Texas Lottery makes contingency plans for takeover
The Texas Lottery Commission began laying the groundwork Wednesday to take over the $95 million-a-year operation historically carried out by a private corporation in the event that the state is no longer satisfied with its work.
Officials made clear that the prospect of the lottery severing its 14-year relationship with Rhode Island-based Gtech Corp. was highly remote.
But they also expressed deep concerns over recent reports that the gaming giant, which is soon to be sold to the Italian f ...
Aug 18, 2006, 3:15 pm - - Lottery News forum
Brazil lottery cancels GTECH contract over Lottomatica acquisition
GTECH Holdings Corp., which has agreed to be bought by Italy's Lottomatica, said on Tuesday that its contract to provide lottery services to its largest customer, Brazil, will not be renewed.
The contract will expire on Aug. 13, the company said in a filing with the U.S. Securities and Exchange Commission.
Its subsidiary, GTECH Brasil Ltda, has provided lottery services to the operator of Brazil's national lottery, Caixa Economica Federal, since 1997.
Revenue from the contract accounted ...
Aug 9, 2006, 9:39 am - - Lottery News forum
Why did NJ give lottery contract to the highest bidder?
Part 2 of a 3-part look at the New Jersey Lottery
A month after a new contract to operate the New Jersey's lottery was supposed to begin, officials still have not determined whether to go with a new company that bid about $75 million for the five-year pact, or the existing operator which bid nearly $32 million more.
Last fall, the state awarded a new five-year contract to GTech Corp., which bid $106.7 million. With a bid $31.7 million lower, Scientific Games filed a protest saying the stat ...
Jul 25, 2006, 9:27 am - - Lottery News forum
Minnesota Lottery renews contract with GTECH
GTECH Holdings Corporation today announced that its wholly-owned subsidiary, GTECH Corporation, signed a two-year contract extension with the Minnesota State Lottery to commence on February 9, 2011.
The contract extension retains all of GTECH's service offerings and the fixed rate under the current contract. GTECH expects to generate revenues of approximately $20 million to $22 million over the two-year extension term.
This contract extension is evidence of the Minnesota State Lottery's c ...
Jun 29, 2006, 10:24 am - - Lottery News forum
