Ohio Senate bill includes privatizing lottery
Critics say gaming corp. drafted language
The Ohio Senate's latest version of the state budget bill includes language to privatize the Ohio Lottery that is nearly identical to legislation drafted by a gaming company hoping to manage the $2.5 billion agency's day-to-day operations.
The language, drafted by GTECH, an industry giant that once ran the Ohio Lottery's back-office operations, was added to the massive budget bill virtually unchanged and without any public hearing. The inclusion of ...
Jun 2, 2011, 7:21 am - Lottery News forum
Spain to privatize lottery
The Spanish government is close to selecting three advisers to help it sell shares in national lottery Sociedad Estatal de Loter as y Apuestas del Estado SA that could raise as much as $10.62 billion.
The choice of strategic, financial and legal advisers could be announced as soon as Tuesday, Aurelio Mart nez, chairman of Loter as y Apuestas del Estado, said in an interview. The mandates are considered prestigious for consulting firms, investment banks and law firms, even if the fees involved ...
May 24, 2011, 7:03 am - Lottery News forum
Ohio Gov. considering privatizing management of lottery
A proposal to privatize the management of the Ohio Lottery Commission was submitted this week to the nonpartisan Legislative Service Commission, which researches Ohio's budgets and laws.
Gov. John Kasich, who has yet to name a lottery director, has for weeks been discussing privatizing lottery operations, though he has not made a public commitment to do so.
Kasich spokesman Rob Nichols said the administration would not answer questions about any proposal until the state budget is released ...
Mar 12, 2011, 10:32 pm - Lottery News forum
Missouri Senate to discuss privatizing state lottery
The Missouri Lottery will begin talks in April with the state Senate about moving control of the lottery from the government to the private sector.
Lottery Executive Director May Scheve said it was difficult to comment on the issue because the Missouri Lottery is currently ascertaining the opinion of state vendors on the matter; privatization was only recently brought up by the Senate's Rebooting Government initiative.
We really haven't engaged in conversation with the Senate, Scheve said ...
Mar 3, 2011, 11:23 am - Lottery News forum
Illinois signs deal to privatize lottery
Illinois Lottery to become nation's first privately-run lottery
Daily operations of the Illinois Lottery will be managed by a private company beginning in July.
As part of a massive deal that has been in the works for nearly two years, state officials announced Tuesday that they've signed a final deal with Northstar Lottery Group to run the lottery.
Northstar, which is comprised of three companies that already do business with the state, has said it could generate $1.5 billion more over ...
Jan 19, 2011, 9:15 am - Lottery News forum
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
Decision on privatizing Illinois Lottery 'within days'
Illinois Gov. Pat Quinn could select a private firm to manage the Illinois State Lottery as soon as next week, but some lawmakers would rather keep the lottery under state government.
Two bidders are vying for the right to privately manage the Illinois State Lottery. Earlier this week at a public hearing held in Chicago, the Northstar Lottery Group and the Camelot Group both presented their proposals to a state commission.
The Northstar Lottery Group is a combination of three different com ...
Sep 10, 2010, 8:37 am - Lottery News forum
Illinois Lottery solicits companies for privatization
Lottery seeks 'private manager' to solve many of it problems
The Illinois Lottery today asked private firms for expressions of interest in managing its operations for a period of up to 10 years.
The Illinois General Assembly mandated private management of the Lottery in late 2009. Initial expressions of interest are due May 24 and the private manager is expected to be named before the end of the year.
The General Assembly mandated private management of the Lottery, together with sale of ...
May 13, 2010, 3:49 pm - Lottery News forum
Illinois Lottery may privatize lottery to solve budget woes
The search for revenue to help fix to the state's budget woes has put a spotlight on the Illinois State Lottery.
For more than three decades, the lottery has been a steady, reliable source of revenue for the state. Since 1985, it has brought in more than a half billion dollars annually.
But, just as other state and local governments have sold off assets to help balance their bottom line and avoid tax hikes, the lottery is now being marketed as a potential target for a hybrid brand of priva ...
Apr 5, 2010, 7:03 am - Lottery News forum
Tatts Group buys New South Wales lottery for A$850m
The state government of New South Wales has sold its lotteries business to Tatts Group for A$850m (US$764m) after an auction process that attracted both Australian and international bidders. The total proceeds of the sale will exceed A$1bn after A$160m of cash and other assets from NSW Lotteries are transferred to the government.
Melbourne-based Tatts, which operates lottery businesses in three Australian states and two territories, faced competition from a consortium led by Ontario Teachers' ...
Mar 3, 2010, 9:15 am - Lottery News forum