Cratering lottery revenue is bad luck for NJ state worker pensions
There's a new cause for concern about New Jersey's chronically underfunded public-worker pension funds sagging state Lottery revenues.
That's something of a double whammy for one of the nation's worst-funded state retirement systems, which has seen investment returns plummet precipitously during the coronavirus pandemic.
So far this fiscal year, Lottery revenues, which serve as a dedicated source of funding for the pension system, are down more than 12% compared with the same period last y ...
Apr 27, 2020, 10:39 am - Lottery News forum
New lottery agreement with private operator Northstar expected to save NJ up to $100M
New Jersey government officials have renegotiated a contract with the private operator of the New Jersey Lottery that is expected to save taxpayers up to $100 million over the next decade.
The new agreement raises the performance targets for Northstar New Jersey, a gaming conglomerate which has struggled to meet its financial promises to the state while also reaping tens of millions of dollars each year in incentives and fees. It had promised to generate at least $1.4 billion for the state ov ...
May 14, 2019, 11:38 am - Lottery News forum
NJ Lottery private operator on track to meet budget projections
Turnaround for Northstar after two years of missed targets
Increased sales mean New Jersey's lottery contribution to the state budget is on track to meet its target for 2016 after falling short the first two years of a long-term contract with a private operator.
The operator of the lottery's sales and marketing, Northstar New Jersey, is budgeted to return $1 billion to the state to help fund programs for education, disabled veterans and senior citizens. Through the first three months of th ...
Oct 16, 2015, 10:22 am - Lottery News forum
NJ Lottery officials still investigating cause of massive outage
The exact cause and circumstances of a five-day outage that blocked nearly half of New Jersey's lottery retailers from selling printed tickets like Pick 3 and Mega Millions earlier this month are still a mystery, but a few determinations are unanimous.
The blackout, although anomalous, was unacceptable, may have been detected sooner and should have been handled better, state officials and executives from Northstar New Jersey, the group responsible for the lottery's sales and marketing, said a ...
Aug 20, 2015, 8:27 pm - Lottery News forum
New Jersey Lottery signs 15-year deal with Northstar NJ
Private company to take over marketing, sales, other functions
Scientific Games Corporation today announced that Northstar New Jersey Lottery Group, LLC ( Northstar NJ ) has signed a long-term agreement to provide marketing, sales and other services to the New Jersey Lottery.
Services under the agreement are expected to begin on October 1, 2013 following a transition period and end on June 30, 2029.
Northstar NJ is a joint venture comprised of Scientific Games New Jersey LLC, a subsidia ...
Jun 21, 2013, 9:44 am - Lottery News forum
Union fails to derail NJ Lottery's privatization effort
But union still trying to overturn on appeal
The Christie administration is allowed move forward with its plan to have a private firm to take over parts of the New Jersey lottery after a state appellate court denied a request by the state's largest public workers union to block the deal.
But the court said it will speed up the process of hearing the Communication Workers of America's appeal of the contract.
It's the latest development in an ongoing, partisan debate over the future of th ...
Jun 12, 2013, 11:22 pm - Lottery News forum
N.J. treasurer says lottery privatization plan won't lead to layoffs
Plan may actually double the size of sales staff
The New Jersey state treasurer today defended the Christie administration's plan to privatize parts of the New Jersey Lottery and said he does not anticipate it leading to layoffs.
Andrew Sidamon-Eristoff appeared in front of the state Assembly Budget Committee in Trenton to publicly discuss the plan which has drawn staunch opposition from New Jersey's Democratic state lawmakers and U.S. congressmen for the first time.
We can re-energize ...
Apr 25, 2013, 6:42 pm - Lottery News forum
NJ Gov. slams Democrat tactics to derail lottery plan
New Jersey Gov. Chris Christie referred to some New Jersey federal lawmakers' insistence that the U.S. Attorney General conduct a formal review of his lottery privatization plans as naked partisanship.
The governor blasted six New Jersey congressmen's decision to send the letter requesting a review by the Justice Department, saying Thursday that it amounts to nothing more than a campaign stunt for Christie's presumed Democratic gubernatorial challenger.
They might as well just put a 'Buo ...
Apr 19, 2013, 10:33 am - Lottery News forum
NJ Democrats want Justice Department to review lottery privatization plan
Unhappy with the state's decision to push ahead with its plan to partially privatize the New Jersey Lottery, a group of Garden State lawmakers have decided to make a federal case of the conflict. On Wednesday, half of New Jersey's congressional delegation asked U.S. Attorney General Eric Holder to review the administration's scheme to see if it complies with federal law.
The six Democratic congressmen cosigned a letter to Holder, asking him to determine whether the $120 million payment the st ...
Apr 18, 2013, 3:25 pm - Lottery News forum
N.J. Assembly approves measures to slow Gov.'s plan to privatize lottery
The New Jersey Assembly Monday passed a measure that would force Gov. Chris Christie to seek the Legislature's approval for his plan to privatize parts of the state lottery, which Democratic lawmakers said is being pushed through under the radar without oversight.
The bill (A3614), approved 45-29, largely along party lines, would give the Legislature the power to reject or accept the 15-year, $120 million contract the Christie administration is reviewing. Current law does not require Christie ...
Jan 29, 2013, 6:52 am - Lottery News forum