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TagResults 1 - 10 of 606 for financials. (0.50 seconds)

Governor revamps Missouri Lottery Commission
Gov. Jay Nixon replaced most of the members of the Missouri Lottery Commission on Thursday as he released a report recommending the agency review its policies on prizes and advertising in a quest to route more money to education. The shake-up in oversight at the Missouri Lottery comes after it posted record sales during the past budget year yet transferred less money to education than it had in the previous year. Nixon in July had directed his state budget office to review the lottery's op ...
Sep 19, 2014, 8:21 am - Lottery News forum

Arkansas Lottery recoups $1M in unpaid taxes, child support
In its five years of operation, the Arkansas Scholarship Lottery has raised nearly a half-billion dollars in scholarships to help 135,000 Arkansas students attend in-state public and private colleges and universities. But thanks to an often-forgotten provision of the Arkansas Code, the Lottery has also benefited state operations by recouping nearly $1 million in unpaid taxes and child support payments. The Arkansas Scholarship Lottery Act of 2009 requires the Lottery to cooperate in identifyi ...
Sep 3, 2014, 8:37 am - Lottery News forum

Travel by Missouri Lottery employees under scrutiny
Nine Missouri Lottery employees took a state-paid trip to Orlando, Fla., in July 2012 to attend a professional development seminar. It wasn't the only time lottery employees traveled to the Sunshine State. During the last three years, officials have logged a total of 20 trips to central Florida. Other popular destinations included New York, San Diego, Chicago, Washington, Atlanta, Las Vegas, New Orleans and Providence, R.I. The out-of-state travel which has cost the lottery $129,881 and a ...
Sep 2, 2014, 8:48 am - Lottery News forum

Kentucky Lottery finally able to advertise where the money goes
Required change in state law Includes video report For the first time in its 25 year history, the Kentucky Lottery is advertising where proceeds from the sale of its games are spent. This has never happened before because, until recently, it would've been against the law. When the state's General Assembly put together the governing legislation for the Kentucky Lottery back in 1989, a floor amendment was passed which stated, ...government programs and services shall not be mentioned i ...
Aug 27, 2014, 9:02 am - Lottery News forum

Maryland lottery players winning big with Pick 4
Gamblers in Maryland are getting lucky, and that's bad news for the state lottery. The Maryland Lottery is losing more money than it expected to on its Pick 4 game, said Stephen Martino, director of the Maryland Lottery and Gaming Control Agency. The lottery's revenue is down through the first month of this fiscal year largely because of winnings it's paying out to Pick 4 players. Pick 4 sales are up and players are winning more often than usual. Our Pick 4 is killing us, Martino said at ...
Aug 17, 2014, 8:00 am - Lottery News forum

More people playing, winning in SC Lottery
The South Carolina Education Lottery announced Monday it set records for ticket sales and the amount of money raised for education in the last fiscal year. It also set records for the amount of prize money paid out and the commissions paid to lottery retailers. Lottery revenue was more than $1.26 billion for the year. Ticket sales grew by $66 million, which meant the amount that got deposited into the lottery's education account was $323.4 million, or $23 million more than the previous year. ...
Aug 5, 2014, 9:57 am - Lottery News forum

Is it game over for the Texas Lottery?
Some Texas lawmakers say it may be time to scratch out the lottery. More than two decades after Texas voters legalized the game of chance in the state, a group of lawmakers will soon start reviewing whether to end at multibillion-dollar industry that pumps more than $1 billion a year into schools. Critics say they fear that the game financially hurts some of the most vulnerable Texans and doesn't do enough to help the state. Supporters disagree and question where $1 billion a year can be f ...
Aug 2, 2014, 8:31 pm - Lottery News forum

Missouri Gov. orders review of Lottery operations
Missouri Gov. Jay Nixon has asked the state Office of Administration to carry out a comprehensive review of the Missouri Lottery's operations. The lottery posted more than $1.14 billion in sales last year, according to unaudited figures, but its $267.3 million profit (which goes to education funding) was $31 million short of its goal and was below 2006 totals when adjusted for inflation. The governor cited declining lottery and casino revenue in his decision to withhold $35 million of educ ...
Jul 24, 2014, 10:13 am - Lottery News forum

Seeing sales slowing, Missouri Lottery officials seek new customers
For many years, as state revenue has fluctuated and stagnated, the Missouri Lottery has been a welcome outlier, a dependable, sometimes surging revenue stream that rarely failed to post record profits. From 2001-2008, the lottery doubled its sales, to just shy of $1 billion, and its contribution to state education funding (where its profit is directed) reached $265 million. Since then though, the pace has slowed. While sales have continued to tick upward, gone are the years of double-digit ...
Jul 22, 2014, 7:13 am - Lottery News forum

N.C. school construction lottery money doesn't really build schools
Includes video report Where does the North Carolina Education Lottery money go? You know, you buy a ticket, you put money into the education lottery, and you think all that money goes to North Carolina schools. But that is not quite how it works. Of every dollar, 61% goes back into the lottery for prizes, 28% goes to education, and 11% go back to retailers and the lottery for administration. Of that 28 percent for schools, the Education Lottery website says 45.8% goes to teacher pay, 20 ...
Jul 10, 2014, 8:50 am - Lottery News forum

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