Ontario Lottery may be sold off
The Liberal government will sign a $200,000 deal with two investment banks within days to do preliminary research on privatizing all or part of the problem-prone Ontario Lottery and Gaming Corporation, the Toronto Star has learned.
While Bay Street has been tantalized by millions in lucrative commissions from the possible sale of the Liquor Control Board of Ontario, Hydro One, and Ontario Power Generation, informed sources say the provincial lottery monopoly is the main public asset in play.
Dec 21, 2009, 8:22 am - Lottery News forum
Illinois Senate president hopes to expand lottery
Internet sales being contemplated
Hoping to squeeze more money out of the state lottery, Illinois Senate President John Cullerton wants to sell tickets online and hire a private company to manage and market the games.
Cullerton thinks new technology and fresh ideas could help Illinois facing what could be a $9 billion hole in next year's budget dramatically boost lottery revenues.
I would venture to say you could potentially even double it, the Chicago Democrat said in a recent intervi ...
Feb 16, 2009, 9:38 pm - Lottery News forum
DOJ says privatizing state lotteries illegal
Indiana drops privatization plans after DOJ issues opinion
Indiana Governor Mitch Daniels said Friday that he is dropping the idea of privatizing the Hoosier Lottery as an option of funding a college scholarship program after the U.S. Department of Justice said such a move would not comply with federal law.
The Oct. 16 opinion, which Daniels' office said was requested by Indiana and New Jersey, says states would not comply with federal law if they enter into long-term private management ag ...
Oct 28, 2008, 8:25 am - Lottery News forum
Illinois House approves privatizing state lottery
Illinois would raise $10 billion for building roads and schools by privatizing its state-run lottery for half a century under a plan the House approved Wednesday night.
After years of resisting, Speaker Michael Madigan and his House Democrats approved turning the lottery over to a private vendor because Gov. Rod Blagojevich and the Legislature have never agreed on another way to pay for a statewide construction program.
The House also voted to restore some of the painful budget cuts Gov. R ...
Sep 12, 2008, 3:15 am - Lottery News forum
Senate panels look into privatizing Texas Lottery
As state revenue from the Texas Lottery continues to decline, two Senate committees on Wednesday began searching for ways to boost the state's take from the games of chance including the possible privatization of the entire lottery operation.
Senators indicated they are willing to look at a variety of options to get the revenue flow back on an upward track after recent declines - including a drop to about $975 million this fiscal year after several straight years of totals over $1 billion - a ...
Aug 30, 2008, 12:41 am - Lottery News forum
California Lottery revenues dip
California Lottery officials on Tuesday lowered revenue estimates for the year by $275 million, just as Gov. Arnold Schwarzenegger suggested the state could double sales in a decade.
Citing a declining economy and poor brand image for the games, officials said the lottery's declining performance would reduce contributions to public education by $94 million, about 8 percent less than expected in the fiscal year that ends June 30.
It makes it more difficult for the lottery to meet the goals ...
May 20, 2008, 10:30 pm - Lottery News forum
California Gov. calls for expanding, privatizing lottery
Massively expanded lottery revenues are key to Schwarzenegger's budget plan
Called the lottery an underperforming asset
Anxious to avoid deep cuts in education spending, Gov. Arnold Schwarzenegger on Wednesday proposed dramatically expanding the state lottery and slashing entitlement programs, to help close a budget gap now pegged at $17.2 billion.
Schwarzenegger hopes to win voter support in November for a deal to obtain $15 billion from Wall Street firms, to be repaid from what the g ...
May 16, 2008, 8:41 am - Lottery News forum
Privatization of Texas lottery may get 2nd look in 2009
Texans could buy lottery tickets at the checkout lines in supermarkets and big-box department stores, at coffee shops and cabarets. They could pay with credit cards or personal checks and play online or the old-fashioned way with a ticket that's also a tiny ad for anything from soft drinks to sporting events.
Those are just some of the proposals offered to state officials by some of the nation's largest financial firms that have an interest in remaking the 16-year-old government-run Texas Lot ...
Apr 8, 2008, 10:42 am - Lottery News forum
Governor's plan to lease Vt. state lottery comes up a loser
Some called it the final nail in the coffin. Some called it a eulogy. Whatever they called it, members of the state Senate said a bill they passed Tuesday will likely stand as a tombstone over Gov. James Douglas' proposed lease of the state lottery.
The bill seems fairly mundane in itself. It requires lawmakers' approval before the lottery could be leased something that might well have been required by law already. And the administration was already planning on obtaining Legislative accepta ...
Feb 27, 2008, 8:48 am - Lottery News forum
Editorial criticizes N.J. Lottery privatization proposal
Privately run lottery faces long odds
Home News Tribune
Feb. 2, 2008
Give [New Jersey] state Senate President Richard J. Codey credit for trying.
Responding to the governor's assurance that he is open to ideas for solving the state's long-term budget woes, Codey, D-Essex, floated the notion of leasing the state's lucrative lottery. The way Codey figures it, the lottery might be worth billions upfront, and it might even produce some ongoing cash for the state if it is able to negotiate ...
Feb 5, 2008, 1:27 am - Lottery News forum