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
N.J. is next state to consider bad election lottery idea
By Charles Paolino
Home News Tribune, New Jersey
Who wants to be a millionaire?
That's the question Assemblyman Patrick Diegnan wants to ask potential voters or, at least, that's one way to express the theme of a bill he's proposing in the state Legislature.
Diegnan, a Democrat representing the 18th District, is one of two legislators suggesting that a lottery be held each year on Dec. 31 for a million-dollar prize to be awarded a registered voter who cast a ballot that year in a pri ...
Jan 15, 2007, 1:42 pm - Lottery News forum
Germany debates online gambling
Premiers from the 16 German states were unable to reach unanimous agreement Wednesday on proposed laws to protect state gambling monopolies by banning online gambling in the country.
The heads of the individual German states met to discuss the ban, which would have to be approved by the federal parliament. Three German states Bavaria, Saxony and Hesse have already introduced state laws. Most of the German states run lucrative monopolistic lotteries and are keen to protect these revenues, ...
Dec 14, 2006, 3:39 pm - Lottery News forum
Indiana Gov. wants to sell lottery
As details continued to leak out Wednesday about Indiana Gov. Mitch Daniels' plan to privatize the Hoosier Lottery, reaction from area lawmakers was less than encouraging.
Daniels is expected to unveil the proposal which would likely raise money for higher education at 11 a.m. today.
Wells County Republican Rep. Jeff Espich was briefed on the idea a few weeks ago along with other key lawmakers.
His understanding of the plan was to entice a private entity to run the lottery in exchan ...
Dec 14, 2006, 8:18 am - Lottery News forum
Despite dire predictions, Net gambling not changed by new U.S. law
When President George W. Bush signed the Unlawful Internet Gambling Enforcement Act in October, many reports gave the impression it sounded like the death knell for the multibillion-dollar Web-based gambling industry.
On the contrary, all it did was strictly regulate the process by which funds are transferred from users of the sites to the offshore companies which own and operate them. The practice itself wasn't declared illegal.
Reputable foreign companies wh ...
Dec 8, 2006, 10:56 am - Lottery News forum
NJ Lottery tickets call Corzine 'Acting Gov.'
Gov. Corzine got an early Christmas present from the New Jersey Lottery a demotion to acting governor.
A $2 scratch-off game, Holiday Lucky Times 10, that hit the stores Nov. 13 lists Jon S. Corzine as Acting Governor on a list of state and lottery officials, even though Corzine was elected to a four-year term in November 2005.
I just bought a ticket, I looked at the back of it just to see what the prizes were and I happened to notice it said, Jon Corzine, acting governor,' said Ja ...
Nov 21, 2006, 9:38 pm - Lottery News forum
New Tenn. congressman wants national lottery
Tennessee State Senator Steve Cohen, author of the bill creating the Tennessee Lottery, says he may consider working on a bill to create a national lottery to pay off the national debt when he heads to Congress.
I've considered that, he said. I know that the state lottery's against it, but I think a national lottery to pay off the national debt would be a good thing. ... Debt is a serious problem. A national lottery could help.
Cohen, a Democrat, was elected to succeed U.S. Rep. Harol ...
Nov 14, 2006, 10:54 am - Lottery News forum
Experts: Online-Gambling Ban Won't Work
Gamblers may look over their shoulder now, but experts say a new Internet gambling ban won't keep bettors from ponying up, just turn them on to overseas payment services out of the law's reach.
It has put a terrible scare into people, said I. Nelson Rose, who teaches gambling law at Whittier Law School. But it won't by any means wipe out Internet gambling.
The fright swept through the $12 billion industry on the heels of the recent arrests of two gambling company executives and a new l ...
Nov 12, 2006, 9:08 am - Lottery News forum
U.S. Settles BetOnSports Online-Gambling Civil Case
A federal prosecutor reached a settlement Thursday with online gambling company BetOnSports PLC that permanently bars the London-based company from accepting any bets from the United States.
The lawsuit has been closely watched by the online gambling industry, which generates about $6 billion annually in the United States.
The settlement ends a massive civil case U.S. Attorney Catherine Hanaway filed this summer.
It does not effect a criminal case still pending against several BetOnSpor ...
Nov 12, 2006, 9:03 am - Lottery News forum