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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

Bad breaks, but then a Lotto luckNews Story
Everything that could go wrong seemed to be going wrong for Joan D. Hoffman over Labor Day weekend. First the stove went. Then the hot water tank.So the Williamsville great-grandmother decided to try changing her luck by buying a Lotto Quick Pick ticket Aug. 30 in the Quality supermarket at Sheridan Drive and Delaware Road in the Town of Tonawanda.Not until she saw the winning numbers the next day - 11, 15, 16, 25, 44 and 47 - did she discover she had won one of the largest Lotto jackpots in Wes
Sep 6, 2003, 5:39 pm - 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

Lottery board narrows list of CEO candidates to threeNews Story
The list of candidates for the top job in running Tennessee's lottery has been whittled from 15 to three, but lottery officials declined yesterday to say who the finalists are.One official said Tennesseans could rest assured that the chief executive officer candidates would be well-screened and that the board had no choice but to handle it this way.Lottery board spokesman Will Pinkston was asked why there will not be an opportunity for a public review of candidates or the board's selection.''Unf
Sep 5, 2003, 3:27 am - Lottery News

Florida Lottery Names GTECH For New Multi-Year ContractNews Story
GTECH Holdings Corporation (NYSE: GTK) yesterday announced that its wholly-owned subsidiary, GTECH Corporation, has been selected by the Florida Lottery as the apparent successful bidder to supply a new online and instant-ticket lottery system, lottery terminals, and related telecommunications network. The proposed six- year integrated services contract is expected to commence on February 1, 2005, and includes two two-year extension options. This decision by the Florida Lottery is the result of
Sep 4, 2003, 3:41 am - Lottery News

Texas couple claims $49 million prizeNews Story
Bryon Woods pleaded with his wife Barbara to sell him another $5 worth of lottery tickets at the store where she worked. Good thing she agreed. The Eagle Lake couple on Wednesday claimed a winning Lotto Texas ticket worth $49 million. After tearfully accepting an initial check of $2.9 million, the couple will collect $1.95 million every year for the next 24 years.Bryon Woods said he chose the annuity instead of the lump sum cash payment option because I intend to live another 24 years. I want m
Sep 4, 2003, 3:34 am - Lottery News

N.J. Lottery revenue tops $2 billion for second straight yearNews Story
New Jersey Lottery sales topped the $2 billion mark for the second consecutive year even though sales of tickets for both the Pick 6 Lotto and Lotzee games dropped significantly. The lottery, which is New Jersey's fourth-largest revenue producer, brought in $764 million to state coffers in the fiscal year that ended in June. That was an increase of $10 million over the previous year. The biggest sales gains last year were registered for the state's instant games, which increased by 16.5 percent
Sep 4, 2003, 3:32 am - Lottery News