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UK Lottery funds digital movie projection
The UK Film Council is to furnish some 150 cinemas across Britain with digital projectors in an effort to increase the viewership of independent films.The council has been awarded 19.25m ( 13m, US$23.14m) by the countrys national lottery to install the systems, which will dramatically reduce the cost of distribution of films, according to the BBC.Traditional film projectors require film prints, each of which cost around 1500 ( 1000, US$1800) per reel. Independent and foreign films often cannot
May 21, 2004, 10:41 am - Lottery News

Tennessee Lottery To Fully Fund Scholarships
The Tennessee Education Lottery today celebrates its four-month anniversary with higher-than projected revenues and an optimistic outlook for its next transfer to the Tennessee Lottery for Education fund scheduled for July 15. These first four months are something all Tennesseans can be excited about, said Rebecca Paul, CEO and president of the Tennessee Lottery. Weve created entertainment for millions of Tennessee players, some lucky Tennesseans have won approximately $185.5 million in prizes,
May 21, 2004, 7:31 am - Lottery News

Experts advise to take cash option
Finance 101 for lottery winners: Take the cash, advisers say. Annuities could be a bad bet.Say you win $110 million in the Pennsylvania Powerball drawing, as Steve and Kristine White did on May 8. Is it best to take the money in a lump sum or in an annuity over time?Some experts think the answer is clear: Go for the big bucks. Now.That could explain why the Whites are electing to take a check instead of a guaranteed annual payment of about $7 million, and why the state's three previous Powerball
May 20, 2004, 7:19 am - Lottery News

California Lottery wants changes
The California Lottery, for the first time since it was created nearly 20 years ago, wants to shrink the percentage of its budget dedicated to funding public education in order to boost prize payouts in scratch-off games -- a move officials say ultimately would increase sales and, in turn, money for schools.If the Legislature and Gov. Arnold Schwarzenegger approve, the portion of lottery sales spent on the state's cash-strapped school districts will drop from 34 percent to 26 percent. But suppor
May 19, 2004, 8:08 am - Lottery News

Kentucky losing lottery sales to Tennessee
Kentucky Lottery officials say they have their first hard evidence that Tennessee's new lottery has chipped away at their income: Kentucky lost about $1.85 million in the $213 million Powerball drawing on May 8.Before Tennessee's lottery started on Jan. 20, Kentucky officials estimated that 11 percent of all Kentucky lottery tickets were purchased by Tennessee residents crossing the border to buy them.The Tennessee Lottery started with a few scratch-off games but has been steadily building its o
May 17, 2004, 7:31 am - Lottery News

Minnesota Lottery to close offices
The Minnesota State Lottery will cut 15 jobs and close its offices in Brainerd and Eagan in a move intended to save $1 million beginning in July.Interim lottery director Mike Vekich said Wednesday's moves will make the lottery more efficient and effective. The restructuring was a response to a legislative auditor's report released in February, he said.The job cuts affect three Brainerd employees and two in Eagan. Nine workers in Roseville also received layoff notices. Accountants, secretaries,
May 13, 2004, 6:54 am - Lottery News

New York lottery sales go up 8.2%
$5.84 billion in tickets sold, setting a record for fourth yearSales of New York state lottery tickets totaled $5.84 billion in the fiscal year that ended March 31, officials said this week. Thats up 8.2 percent from $5.39 billion the previous year.New York remains the most successful state lottery in North America in terms of sales. The next highest was in Massachusetts, with $4.19 billion in sales.Its the fourth year in a row that New York broke a record. This past years sales alone were more
May 8, 2004, 2:03 pm - Lottery News

Georgia oversight committee looks into generous lottery perks
A legislative oversight committee began looking Thursday at the generous employment policies of the Georgia Lottery Corp., whose former director and three top aides collected almost $300,000 for vacation and sick days they were due but never used when they left the state to help start Tennessee's lottery.Rebecca Paul and three of her vice presidents took advantage of a policy which allows corporation employees to get paid for up to three years' worth of unused vacation time - 18 weeks - and for
May 7, 2004, 7:17 am - Lottery News

Tennessee Lottery may run short on scholarship funds in 2006
Tennessee's lottery could be short of money to fund college scholarships within a couple of years if current projections of lottery revenue are correct, an analysis by the state treasurer has found.By the end of the 2006 fiscal year, the scholarship fund will be $13 million in the red, and the shortfall will be larger in subsequent years, the treasurer's analysis shows.This means legislators may have to cut the amount given for scholarships or tighten eligibility so fewer students receive them,
May 6, 2004, 7:51 am - Lottery News

Tennessee lawmakers critical of lottery estimates
The Tennessee Lottery's income estimates for next year are lower than originally expected, leading at least one lawmaker to criticize the projections.Lottery officials say the income estimates are conservative, but reasonable.Lottery CEO Rebecca Paul presented the State Funding Board with an estimate of $692 million in total sales for the fiscal year beginning July 1.The first-year estimate, which was used when the lottery legislation was debated last year, was closer to $880 million, based on t
May 3, 2004, 9:39 am - Lottery News