Search

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

Winning lottery ticket wasn’t too lucky for alleged thievesNews Story
Two Ohio men appeared in County Municipal Court Eastern Area Division Thursday accused in the connection of theft of items from Akenheads Dairy, including 395 lottery tickets.Adam Lee Coburn, 19, 137 N. Market St., is charged with breaking and entering, a fourth-degree felony. According to police, early Tuesday Coburn allegedly broke out a window of the store and entered. Taken from the store were 24 cartons of cigarettes, 15 cigarette lighters, three boxes of cigarette rolling papers, two bottl
Sep 5, 2003, 9:55 am - Lottery News

Lottery winnings in middle of disputeNews Story
Ruby Bosher became a millionaire five years ago when she and her husband won the Ohio lottery.Today, her winnings are in a trust, she is in a nursing home suffering from dementia and her children are in court battling over control of her estate.The sibling rivalry played out yesterday before Lake County Probate Judge Ted Klammer, who ordered the family to get along for their mother's sake, even if it was only temporarily.At issue is $3.6 million worth of Super Lotto winnings that Ruby and her hu
Sep 4, 2003, 10:27 am - Lottery News

Tennessee Rejects Lottery Deal with GeorgiaNews Story
The Tennessee lottery board decided unanimously this afternoon to decline a partnership with the Georgia lottery perhaps delaying the startup of games in Tennessee until March.Board members said the deal made sense from a business perspective because it would have provided more net revenue to be used for scholarships for Tennessee students.Although the state Attorney General's Office and the outside counsel consortium led by Waller Lansden Dortch Davis agree a joint venture is legal and allowe
Sep 3, 2003, 6:06 pm - Lottery News

Lottery deal may lead to lawsuitsNews Story
Tennessee's lottery board is pushing ahead with preparations for an unprecedented partnership with Georgia despite escalating criticism of the arrangement and no definitive answer as to whether it would be legal. That question is expected to be answered by Attorney General Paul G. Summers in a formal legal opinion before Friday, when the seven-member board of the Tennessee Education Lottery Corp. has scheduled a vote on acceptance of Georgia's offer.If given the legal green light, there is an ar
Sep 2, 2003, 4:04 am - Lottery News

Lottery partnerships have poor track recordNews Story
As Tennessee officials consider a lottery partnership with Georgia, lottery observers warn that similar joint ventures have had their problems. Tensions simmer within a consortium of western Canadian provinces operating a lottery together. Three New England states are starting to go their separate ways. And South Carolina took only a few days before turning down Georgia's offer to join forces.``Some liaisons are not what they're cracked up to be,'' Edward Stanek of Iowa, the country's longest-se
Sep 2, 2003, 3:58 am - Lottery News

Whittaker in news againNews Story
First he gave her a $100 Christmas present for making his favorite breakfast biscuits. Then, after winning a $315 million Powerball jackpot, Andrew Jack Whittaker helped her buy a $123,000 house.A happy story, except that, now that they know a sex offender lives in their neighborhood, Moss Creek subdivision residents arent so thrilled with the February purchase Whittaker made for C L Super Serve clerk Brenda Higginbotham.Earlier this week, residents found fliers stuck in their doors notifying th
Aug 29, 2003, 11:27 am - Lottery News

Brock defends lottery oppositionNews Story
North Carolina State Sen. Andrew Brock, R-Davie, continues his strong opposition to a statewide lottery while pushing a proposal to move the start of the public school year to after Labor Day.The revenues saved in not having to air-condition schools in August and the extra tourism dollars generated in North Carolina during those same weeks would equal or exceed the proceeds from a lottery, Brock said.Brock said he doesn't trust any politician who says lottery proceeds will go to education. A lot
Aug 29, 2003, 11:23 am - Lottery News