Illinois Lottery privatization announcement expected Wednesday
Southtown Star Editorial
Illinois Gov. Pat Quinn is about to make a billion-dollar decision to which most of us haven't paid much attention. For months, consortiums and companies have been working behind the scenes to become the jackpot winner of a prize that will set an international gambling precedent.
Illinois is soon to become the first in the United States to turn over its state lottery operations to a privately owned company. How this experiment progresses undoubtedly will set preced ...
Sep 14, 2010, 8:08 am - Lottery News forum
Lottery giant GTECH lays off 31 R.I. employees
Lottery giant GTECH Corp. laid off 31 employees in Rhode Island two weeks ago as part of a larger round of worldwide cuts by its parent company, a spokesman said Tuesday.
The job cuts took place on Nov. 17 at a number of the company's facilities in the state, said Robert Vincent, senior vice president for corporate affairs at GTECH, a subsidiary of the Italian company Lottomatica SpA. The parent company eliminated about 80 positions across its divisions, he said.
Like most good companies, ...
Dec 1, 2009, 8:42 pm - Lottery News forum
GTECH chosen as preferred bidder for N.Y. Lottery
Italian gaming company Lottomatica SpA said Sunday its wholly-owned subsidiary, GTECH Corporation, has been chosen as the preferred bidder to negotiate a seven-year contract with the New York Lottery to provide new online lottery solutions and services.
In a statement, Lottomatica said the contract can be extended for an additional three years.
The New York Lottery estimates the total value of the contract to be more than $550 million over the contract period.
The proposed contract, whi ...
Mar 23, 2009, 1:42 pm - Lottery News forum
GTECH awarded Pennsylvania, West Virginia lottery contracts
Lottomatica SpA said its wholly-owned subsidiary GTECH has been told by the Pennsylvania State Lottery of its intent to award GTECH a 5-year contract to provide online and instant integrated services.
The proposed contract, which is expected to kick in in January 2009, includes five 1-year extension options exercisable at the Lottery's discretion.
The Pennsylvania Lottery ranks sixth in the US in terms of total lottery sales, with revenues of $3.076 billion in its most recent fiscal year.
Jan 16, 2008, 10:39 am - Lottery News forum
GTECH takes half ownership of Chinese lottery firm
Providence, R.I.-based lottery technology company GTECH Global Services Corp., a wholly-owned subsidiary of Italy's Lottomatica S.p.A., has spent $20 million to acquire 50 percent of Tabcorp International Hong Kong Ltd. (TIHK), a Chinese lottery provider.
That 50-percent portion of Tabcorp is being spun into a separate entity and renamed CLS-GTECH Co. Ltd. The new entity is being formed to expand a nationwide KENO system for lotteries throughout China, according to company officials.
Dec 21, 2007, 1:56 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
Opinion: Calif. Lottery should not rubber-stamp GTECH deal
As part of a major deal with 24 states, including California, an Italian company has purchased the United States firm that runs lotto and other online games for those states. The merger, where Lottomatica acquired GTECH, was finalized in August and expected to be completed by year's end.
The agreement surprised and stunned state lawmakers. Not even the attorney general's office, which is supposed to defend the state lotto, was aware of it. The deal was orchestrated by the state lottery's act ...
Dec 11, 2006, 11:25 am - Lottery News forum
Backlash in Calif. over sale of lottery operator GTECH
As the new 2007-08 Legislature convened Monday, the backlash over an Italian firm's quiet takeover of California's lotto contractor grew when a second legislative committee said it would investigate.
Assemblyman Alberto Torrico, a Newark Democrat who chairs the government organization committee in the lower house, said his panel is probing the matter and may convene hearings.
I'm taking a look at the situation. I've read the press report. I've been briefed by my staff, said Torrico, whos ...
Dec 6, 2006, 9:57 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
Texas Lottery chairman OK with GTECH sale
The Texas Lottery Commission questioned the chief executive of lottery operator GTECH Corp. for more than three hours on Wednesday about accusations it used unsavory tactics to win or keep business in several countries, but the panel's chairman said he saw nothing unsuitable in the company's sale to an Italian firm.
Investors feared a highly critical Texas Department of Public Safety report delivered to the commission last month could hinder GTECH's sale to Italian lottery operator Lottomatic ...
Aug 18, 2006, 2:15 pm - Lottery News forum