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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

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

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

Pembroke Pines man has mom to thank for the jackpot winningsNews Story
A Pembroke Pines man who originally thought he had won just $4.50 on a Florida Lotto ticket, yesterday redeemed the jackpot winning ticket from the Aug. 23 drawing.Peter J. Pillar, 52, chose a lump sum payment of $15.4 million rather than $27 million paid in 30 annual installments of $900,000. My mother told me I had three numbers right, said Pillar. She didn't tell me she had only heard three numbers. I couldn't believe it, but I had the other three numbers, too. Expecting $4.50, Pillar ask
Sep 3, 2003, 3:42 am - Lottery News

Pembroke Pines hits Lotto jackpot for a 4th timeNews Story
Who said lightning can't strike twice?It hit in this city for the fourth time in 11 years on Saturday when a Florida Lotto ticket, a Quick Pick, matched all six numbers in the $27 million drawing.Because it was the only ticket in Florida with the right combination, 7-8-16-19-47-52, the person who bought the ticket in S.K. Ali's convenience store will get the entire pot.Ali late Sunday didn't know which of his customers beat the 22,957,480-to-1 odds, but the 40-year-old manager of the Columbus Fo
Aug 25, 2003, 3:31 am - Lottery News

Lottery alliance winning supportNews Story
For those prone to wager, a lottery partnership between Georgia and Tennessee looks like a pretty good bet these days.Georgia officials have proposed the partnership, which would be unique in the nation and could involve anything from sharing office supplies and vendors to combined games.The idea got a push last week when a consultant told Tennessee's lottery board that a joint venture would make the Volunteer State mountains of money over the next few years. There appear to be a huge number of
Aug 25, 2003, 3:26 am - Lottery News

Florida Lotto jackpot rolls over to $21 millionNews Story
No ticket matched all six Florida Lotto numbers, causing the current jackpot to roll over to $21 million, lottery officials said Sunday.A total of 88 tickets matched five numbers to win $6,464.50; 5,766 tickets matched four numbers for $80; and 122,103 tickets matched three numbers for $5.The winning Florida Lotto numbers selected Saturday: 9-11-33-43-46-53.
Aug 18, 2003, 3:33 am - Lottery News