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Tenn. may pay Paul 6 times what Calif., Texas, Fla. pay lottery chiefsNews Story
Package: $350,000 salary and up to $402,500 in bonusesTennessee's new lottery director will make at least three times the salary and perhaps as much as six times more than the directors of many of the nation's largest state lotteries, a Tennessean survey of lotteries shows.Georgia lottery director Rebecca Paul, who was tapped during the weekend to head Tennessee's new lottery, will receive a base salary of $350,000. This compares with $134,000 in New York, $123,255 in California and $110,000 in
Sep 10, 2003, 4:07 am - Lottery News

Paul recommends maximizing lottery prizesNews Story
Increasing lottery prizes by changing the law that sets aside nearly a third of game proceeds for scholarships will ultimately lead to more money for Tennessee students, the state's new lottery chief said Tuesday. Rebecca Paul, speaking to reporters a day after being named CEO of the state's new lottery, said she already has contacted several legislators about changing the lottery statute so that officials will have the flexibility to maximize the money going toward college awards.Currently, lot
Sep 10, 2003, 4:05 am - Lottery News

Paul denies leaving Georgia lottery in quandaryNews Story
New Tennessee lottery chief says rising college costs are a problemRebecca Paul, Tennessee's new lottery chief executive officer yesterday denied leaving the same position in Georgia because of problems with the Peach State's lottery scholarship program.She also said the problem with the HOPE scholarship program in Georgia is escalating college costs, which are growing faster than lottery revenue even though that revenue has climbed 136% in the past 10 years from $1.1 billion a year to $2.6 bill
Sep 10, 2003, 4:03 am - Lottery News

State misses the jackpot with Mega MillionsNews Story
Mega Millions, Washington's foray into the world of multistate lottery gambling, has been a mega-disappointment. The state, one of 10 partners in the country's largest jackpot game, had about $51 million in sales during its first year of participation, which ended last week. That's less than half the $117 million originally projected.Proceeds for education and school construction, originally predicted to be $32 million, turned out to be $13 million.Lottery officials attribute the disappointing p
Sep 9, 2003, 4:01 am - Lottery News

Tenn. Lottery Could Include Satellite NetworkNews Story
A legislative sponsor of Tennessee's lottery law says the game could be a high-tech operation when retailers start selling tickets.State Rep. Chris Newton of Cleveland says retail outlets may be connected to the lottery's online games by traditional phone lines, but other technologies could be featured. He says the technology is there to do the satellite hookup.A mid-February or later starting date is projected since the Tennessee lottery board rejected a joint operating deal with Georgia.Tennes
Sep 8, 2003, 2:36 pm - Lottery News

What if group buys winning lottery ticket?News Story
Q: We are a financial club that invests in the stock market and also buys weekly lottery tickets. We all contribute and one member buys the tickets. It's wishful thinking, but what if the ticket wins $1 million? What are the payment basics and how can we protect ourselves against the ticket purchaser claiming the winnings for himself?-- Hopeful in Hialeah A: Let's first talk business law, and then we'll suggest some precautions to assure proper division of payment.A lottery ticket is a unilater
Sep 8, 2003, 3:57 am - Lottery News

Giant lottery operator GTECH wants to add Tennessee to its clienteleNews Story
Financial advisers have long said that lottery players would fare better investing their money in the stock market than hoping the pingpong balls pop up with their numbers.If you followed that advice and bought stock in the largest lottery operator in the country, GTECH Holdings, over the past decade, chances are the investment would have paid off better about 500% better.The West Greenwich, R.I., company's stock price has doubled in the past year, closing Friday at $42.77; GTECH's revenues have
Sep 8, 2003, 3:49 am - Lottery News

GTech has winning lottery ticket, checkered pastNews Story
A Rhode Island company that practically built the nation's state lottery business just added the Florida Lottery as the missing gem to its crown jewels.GTech Corp. last week became the successful bidder to run the Florida Lottery system. With Florida in hand, the company will run all five of the country's biggest state lottery systems - New York, Texas, Georgia, California and Florida. Altogether, GTech will operate 26 of the 36 state lottery systems, plus the Washington, D.C., system. We genera
Sep 8, 2003, 3:44 am - Lottery News

Georgia's Lottery Director to QuitNews Story
Rebecca Paul, who started Georgia's lottery and has been its only director for 10 years, is jumping ship to run the startup lottery for neighboring Tennessee. She has informed the governor, Dan McLagan, a spokesman for Georgia Gov. Sonny Perdue, said. Mrs. Paul has indicated she is looking for a new challenge. We certainly wish her well. Earlier Sunday, two sources told The Associated Press Paul was negotiating with Tennessee officials to head their new lottery and that she was expected to tak
Sep 8, 2003, 3:38 am - Lottery News

Last NJ Lotzee drawing will be Sept. 13News Story
The last drawing of the New Jersey Lottery's Lotzee game will be Sept. 13. The game is being discontinued due to declining sales that do not support fixed prize levels, officials said Friday.Sales for the $2 game, which debuted in 1998, dropped by more than 32 percent in fiscal year 2003 compared to the previous year. Just over $16 million worth of Lotzee tickets were sold compared to almost $24 million in fiscal year 2002. A game cannot survive when the average draw sales are less than the top
Sep 5, 2003, 9:50 am - Lottery News