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Pennsylvania will not privatize lotteryNews Story
Pennsylvania is scrapping a deal with a U.K.-based company to privatize management of the state's lottery system, Governor Tom Corbett said on Monday. The state struck a deal more than a year ago with Camelot Global Services LLC, a subsidiary of Britain's national lottery operator, Camelot Group PLC, to guarantee $34.6 billion in payments to the state over 20 years to manage the Pennsylvania lottery. But Corbett's administration repeatedly had to extend the contract after Pennsylvania Atto
Dec 31, 2013, 8:43 am - Todd - Lottery News

Republican says Colo. Gov. pressure killed plan to privatize lotteryNews Story
Republicans are accusing the Colorado governor of pressuring his party's legislators into essentially killing a plan to privatize the lottery. They claimed Gov. Bill Ritter believes the lottery proposal would compete with his plan to bring in more property taxes to pay for education. Ritter denied the accusations Friday. Republican Sen. Josh Penry of Fruita also said his Democratic co-sponsor on the lottery plan was under tremendous pressure to back away from the idea. The co-spons
Apr 22, 2007, 10:58 am - Todd - Lottery News

NJ moves to privatize lottery sales, marketingNews Story
Four companies interested in running portions of the New Jersey Lottery attended a mandatory information session in Trenton last Thursday, the first step toward privatization. The state Treasury Department is looking to hand over sales and marketing operations to a private vendor next year. The state would retain ownership of the lottery under the plan, and state employees would continue to manage its operations though those jobs are not guaranteed. New Jersey has the eighth largest state
Sep 11, 2012, 12:24 pm - Todd - Lottery News

West Virginia resisting trend to privatize LotteryNews Story
About a dozen states are flirting with the idea of selling their lotteries to private companies to help plug financial gaps in their budgets. But West Virginia officials say they so far have not seriously considered such an initiative, which would privatize the state lottery in exchange for quick cash. California Gov. Arnold Schwarzenegger, for instance, wants to sell the Golden State's lottery to bring in as much as $37 billion. Under Schwarzenegger's plan, the state lottery would be leas
May 10, 2007, 4:26 pm - Todd - Lottery News

Illinois Lottery may privatize lottery to solve budget woesNews Story
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 - Todd - Lottery News

Illinois signs deal to privatize lotteryNews Story
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 - Todd - Lottery News

N.J. Assembly approves measures to slow Gov.'s plan to privatize lotteryNews Story
The New Jersey Assembly Monday passed a measure that would force Gov. Chris Christie to seek the Legislature's approval for his plan to privatize parts of the state lottery, which Democratic lawmakers said is being pushed through under the radar without oversight. The bill (A3614), approved 45-29, largely along party lines, would give the Legislature the power to reject or accept the 15-year, $120 million contract the Christie administration is reviewing. Current law does not require Christie
Jan 29, 2013, 6:52 am - Todd - Lottery News

N.J. Gov.'s plan to privatize lottery comes under fire from DemocratsNews Story
Democratic lawmakers took aim at New Jersey Gov. Chris Christie's plan for the private sector to run the New Jersey Lottery, saying the 15-year contract currently on the table benefits the winning company more than New Jerseyans. At a hearing of the Assembly Budget Committee today, Democrats and small business owners said the proposal needs more public input because the Lottery a $2.6 billion business has been well run over the years and thousands of small businesses could be hurt by the move
Dec 7, 2012, 8:36 am - Todd - Lottery News

Spain to privatize lotteryNews Story
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 - Todd - Lottery News

N.Y. Gov. wants to privatize lotteryNews Story
New York may try to cash in on the future its lucrative lottery as a way to create a permanent education fund, and Wall Street is interested in taking the bet. The stakes are high for everyone, from students who could get better education to poor communities that might see more grocery money scratched away. For state government, a long-term leasing for part of the lottery and part of its profits to a private investor for 30 or 40 years could attract a massive upfront payment, perhaps in th
Jan 11, 2008, 6:43 am - Todd - Lottery News