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TagResults 1 - 10 of 590 for financials. (0.03 seconds)

How lottery tickets are helping states' budgets
The scores of losing players in this week's $425 million Powerball jackpot did more than take an extremely long shot at getting rich. Their ticket purchases also helped fund a small but increasingly important part of their states' budgets. Changes in the nationwide Powerball and Mega Millions games have led to some of the world's largest jackpots in the last two years, boosting player interest and sales. Fueled by the growth of those games and the steady expansion of other offerings, many sta ...
Feb 24, 2014, 7:08 am - Lottery News forum

NY's Lotto no match for Powerball, Mega Millions
Lotto is still losing its mojo. New York's venerable twice-weekly Lotto drawing continues its long-term decline in an age of multi-state mega jackpots. Even as overall lottery revenues grew, receipts from Lotto dropped from $137.5 million in 2005 to a projected $44 million for the state fiscal year ending March 31, according to Gov. Andrew Cuomo's recent budget proposal. Lotto is simply less alluring than the six-figure jackpots of Powerball and Mega Millions, which are sold around the nat ...
Feb 3, 2014, 3:16 pm - Lottery News forum

Lottery expansion could still be a big winner for Penn. Gov.
Efforts by Gov. Tom Corbett's administration to privatize the management of the Pennsylvania Lottery is on the back burner, but the idea of expanding lottery games to include keno remains very much in the picture. Revenue Secretary Dan Meuser and top lottery officials testified last week before the Senate Finance Committee on how keno is part of a developing strategy to increase lottery revenue to meet growing demand for the senior citizen benefits it underwrites. The catalyst for action, as ...
Feb 2, 2014, 9:05 am - Lottery News forum

Snowstorms hurt Massachusetts Lottery sales
Lottery ticket sales dipped in December by nearly $1 million below last year s total a drop Lottery officials attribute to two snowstorms that kept buyers out of stores. During the Dec. 17 storm, Lottery agents lost out on rush hour sales when many commuters spent hours in their cars driving home, Beth Bresnahan, assistant executive director of marketing and communications, said during a Lottery Commission meeting Tuesday. But a record $648 million Mega Millions jackpot prevented the sales ...
Jan 29, 2014, 11:40 am - Lottery News forum

Tennessee Lottery celebrates 10 years, unveils new logo
By Todd Northrop The Tennessee Lottery celebrated 10 years in business in the Volunteer State by unveiling a new logo and announcing another record quarter. The Lottery to-date has raised a total of more than $2.91 billion for education-related programs. The corporation celebrated this milestone anniversary Tuesday with a short program at the Lottery's headquarters in Nashville. During the program a new logo was unveiled and retailer partners with a Board Resolution were honored, and ...
Jan 22, 2014, 12:05 pm - Lottery News forum

Keno: The Next Big Bet For The N.H. Lottery?
On a recent afternoon at the Common Grounds Cafe, 200 yards from the New Hampshire border in Methuen, Mass, a handful of men sit along a short counter or at several tables in the back of the cafe. Eyes moving back and forth from their pink and white betting slips to two wall-mounted video monitors, they wait for the next drawing of a popular electronic lottery game called Keno. We've got some regulars who come in almost every day, said Shane Bernard, who runs the cafe with his parents. An ...
Jan 8, 2014, 9:51 am - Lottery News forum

California Lottery is booming, thanks to higher payouts
After years of decline, the California Lottery is booming. The jackpots are bigger, and that's drawing more players and excitement. Just a few weeks ago, a Mega Millions ticket sold in San Jose matched all six numbers. The state-record prize of $324 million worth about $174 million in a single payment was claimed by a Northern California man Friday. The turnaround is due to changes made to the lottery in 2010, when revenues were on the decline. The changes brought bigger prizes, but they a ...
Jan 6, 2014, 7:51 am - Lottery News forum

Texas Lottery reports record-breaking 2013
The Texas Lottery Commission today reported record results for fiscal year 2013, its best year for sales and revenue in the Lottery's 21-year history. Sales of $4.376 billion topped the previous sales record of $4.19 billion set in 2012 and resulted in a total contribution of $1.214 billion to the state of Texas, the Lottery's single largest transfer of revenue to the state, including a contribution of $1.149 billion to the Foundation School Fund. This is the 10th consecutive year that th ...
Nov 19, 2013, 6:29 pm - Lottery News forum

Pa. Gov. extends lottery privatization contract
Gov. Tom Corbett's administration will continue its examination into the privatization of the management of the Pennsylvania Lottery for two more months. The administration announced Tuesday that United Kingdom-based Camelot Global Services has agreed for an 11th time to extend its bid's expiration date, which was set to expire today. It now is good through Dec. 31. Camelot, the lone company to submit a bid, committed to generating $34.6 billion in profits to fund lottery-funded programs f ...
Oct 30, 2013, 11:30 am - Lottery News forum

Pa. Gov. defends lottery privatization exploration
If privatizing the Pennsylvania Lottery's management isn't the answer to ensuring reliable and predictable funding for programs for older Pennsylvanians, what is? That's the question that a spokesman for Gov. Tom Corbett raised in responding to state Treasurer Rob McCord call on Monday to pull the plug on the administration's lottery private management agreement (PMA) pursuit. Our need is outpacing our ability to fund those programs, said Corbett press secretary Jay Pagni. The PMA is a ve ...
Oct 29, 2013, 8:10 am - Lottery News forum

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