Indiana Lottery sell-off advances in state Senate
Correction: This story originally identified Kentucky as the state selling off its lottery. We apologize for the error.
A Senate committee approved legislation yesterday to privatize the Hoosier Lottery after university officials said they needed the money it would generate to attract top researchers and boost life sciences.
We believe this bill is a difference maker, said Purdue University President Martin Jischke.
Senate Bill 577 passed 7-5 largely along party lines, with Republi ...
Feb 21, 2007, 8:11 am - Lottery News forum
Will Maryland sell off its lottery?
With a huge cash crunch on the horizon and soaring demands for school construction, new roads and mass transit, some Maryland lawmakers are talking up the idea of selling one of the state's most valuable assets: the lottery.
The idea has grown popular since the governor of Illinois proposed doing the same thing last year. The governors of Indiana and Texas have suggested similar moves, and discussions of the idea are taking place in Michigan and New Jersey.
Maryland faces a gap of $1.3 bil ...
Feb 15, 2007, 12:15 pm - Lottery News forum
Ohio Lottery panel rejects new Gov.'s call for smaller prizes
Ohio Lottery Commission officials say a recommendation from Ohio's new Governor that they reduce prizes to give their profits a boost would have the opposite effect.
Lottery officials responded yesterday to a report from Gov. Ted Strickland's transition advisers that said the lottery has an inordinately high percentage of prize payouts.
The advisory panel last month asked lottery commissioners to consider scaling back the 59 percent it returned in prizes, which was higher in 2004 than w ...
Feb 13, 2007, 9:21 am - Lottery News forum
GOP legislators question math in Texas lottery-sale plan
Texas Gov. Rick Perry's proposal to sell off the state lottery to fund cancer research and health insurance was met with skepticism Tuesday from a number of key Republican lawmakers who said the numbers don't add up.
I don't know anyone who's supporting it, said Rep. Warren Chisum, R-Pampa, who chairs the powerful House Appropriations Committee. I'd give it only a 10 percent chance of passing.
In an e-mail, Sen. Robert Duncan, R-Lubbock, who heads the Senate State Affairs Committee, sa ...
Feb 9, 2007, 8:15 pm - Lottery News forum
Texas Gov. proposes selling the lottery
Texas Gov. Rick Perry said Thursday that his State of the State address on Tuesday would include a plan to fully privatize the Texas Lottery by selling it to private interests.
Perry said such a sale would raise substantial funds that could be used for health care and research.
Other states, including Illinois and Indiana, are looking into the concept, which allows a state to collect a large lump sum to replace future lottery revenue.
The proposal is likely to be controversial because t ...
Feb 2, 2007, 5:46 pm - Lottery News forum
Company running most lottery games worldwide has history of scandal
The company behind the more than 16,000 machines that spit out New York Lottery tickets has been linked to scandals across the country and around the globe.
Bribery allegations led a co-founder to quit his job as chairman. Its lobbyists have run afoul of the law in several states, including New York. Former government officials have received lucrative consulting contracts.
And in summer 2006, an investigation in Texas found that the company, GTECH Holdings Corp., doled out tens of millions ...
Jan 31, 2007, 5:30 am - Lottery News forum
Lottery foes try to restrict gambling, with little success
Some New York lawmakers want the state to tell lottery-ticket buyers how slim the odds are of winning, and raise the gambling age from 18 to 21 to try to discourage gambling sprees.
But those who oppose change have a ready rejoinder: The state is, in effect, addicted to the billions in revenue that Lottery games generate.
The status quo is likely to prevail.
If you put in the ad 'The New York Lottery jackpot is now $10 million' and in the next graph say the odds of wining are 1 in 12 m ...
Jan 31, 2007, 12:51 am - Lottery News forum
Nationwide, lotteries pay for far more than education
Martha Keller is a 78-year-old resident of Altoona, Pa., who frequently takes the bus from her apartment on Walnut Avenue to her doctor's office or the local senior center. Chandni Amin is a 19-year-old nursing student at Georgia State University in Atlanta.
Keller and Amin have little in common save for one thing both are benefiting directly from money raised by state lotteries. Lotteries help pay for everything from education to economic development, buses to baseball stadiums.
In Penn ...
Jan 31, 2007, 12:06 am - Lottery News forum
N.Y. Gov. vows to review Lottery operations
New York Governor Eliot Spitzer is pledging to review the New York Lottery's operations amid bipartisan calls for reform prompted by a media report revealing that billions of dollars in bets were kept off the Lottery's books.
Several state legislators said yesterday that the Lottery Division needed to fully account for all the cash generated by its video lottery terminals, after it was reported that only a portion of wagers was included in the Lottery's financial reports.
This is a little ...
Jan 30, 2007, 7:36 pm - Lottery News forum
New York Lottery accounting method questioned
Billions of dollars in bets are kept off the New York Lottery's books.
That's because the state Lottery Division does not publicly report the wagers on its video games that go to gamblers as prizes.
The figures aren't included in the Lottery's annual reports or audited financial statements, and the Lottery initially declined requests for the amounts wagered on the video machines, and the prizes paid, since the machines were introduced in 2004.
Late yesterday, however, a Lottery official ...
Jan 30, 2007, 6:48 pm - Lottery News forum