Illinois signs deal to privatize lottery
Illinois Lottery to become nation's first privately-run lottery
Daily operations of the Illinois Lottery will be managed by a private company beginning in July.
As part of a massive deal that has been in the works for nearly two years, state officials announced Tuesday that they've signed a final deal with Northstar Lottery Group to run the lottery.
Northstar, which is comprised of three companies that already do business with the state, has said it could generate $1.5 billion more over ...
Jan 19, 2011, 9:15 am - Lottery News forum
Illinois Lottery privatization announcement expected Wednesday
Southtown Star Editorial
Illinois Gov. Pat Quinn is about to make a billion-dollar decision to which most of us haven't paid much attention. For months, consortiums and companies have been working behind the scenes to become the jackpot winner of a prize that will set an international gambling precedent.
Illinois is soon to become the first in the United States to turn over its state lottery operations to a privately owned company. How this experiment progresses undoubtedly will set preced ...
Sep 14, 2010, 8:08 am - Lottery News forum
Decision on privatizing Illinois Lottery 'within days'
Illinois Gov. Pat Quinn could select a private firm to manage the Illinois State Lottery as soon as next week, but some lawmakers would rather keep the lottery under state government.
Two bidders are vying for the right to privately manage the Illinois State Lottery. Earlier this week at a public hearing held in Chicago, the Northstar Lottery Group and the Camelot Group both presented their proposals to a state commission.
The Northstar Lottery Group is a combination of three different com ...
Sep 10, 2010, 8:37 am - Lottery News forum
Illinois Lottery solicits companies for privatization
Lottery seeks 'private manager' to solve many of it problems
The Illinois Lottery today asked private firms for expressions of interest in managing its operations for a period of up to 10 years.
The Illinois General Assembly mandated private management of the Lottery in late 2009. Initial expressions of interest are due May 24 and the private manager is expected to be named before the end of the year.
The General Assembly mandated private management of the Lottery, together with sale of ...
May 13, 2010, 3:49 pm - Lottery News forum
Illinois Lottery may privatize lottery to solve budget woes
The search for revenue to help fix to the state's budget woes has put a spotlight on the Illinois State Lottery.
For more than three decades, the lottery has been a steady, reliable source of revenue for the state. Since 1985, it has brought in more than a half billion dollars annually.
But, just as other state and local governments have sold off assets to help balance their bottom line and avoid tax hikes, the lottery is now being marketed as a potential target for a hybrid brand of priva ...
Apr 5, 2010, 7:03 am - Lottery News forum
Tatts Group buys New South Wales lottery for A$850m
The state government of New South Wales has sold its lotteries business to Tatts Group for A$850m (US$764m) after an auction process that attracted both Australian and international bidders. The total proceeds of the sale will exceed A$1bn after A$160m of cash and other assets from NSW Lotteries are transferred to the government.
Melbourne-based Tatts, which operates lottery businesses in three Australian states and two territories, faced competition from a consortium led by Ontario Teachers' ...
Mar 3, 2010, 9:15 am - Lottery News forum
Ontario Lottery may be sold off
The Liberal government will sign a $200,000 deal with two investment banks within days to do preliminary research on privatizing all or part of the problem-prone Ontario Lottery and Gaming Corporation, the Toronto Star has learned.
While Bay Street has been tantalized by millions in lucrative commissions from the possible sale of the Liquor Control Board of Ontario, Hydro One, and Ontario Power Generation, informed sources say the provincial lottery monopoly is the main public asset in play.
Dec 21, 2009, 8:22 am - Lottery News forum
Illinois Senate president hopes to expand lottery
Internet sales being contemplated
Hoping to squeeze more money out of the state lottery, Illinois Senate President John Cullerton wants to sell tickets online and hire a private company to manage and market the games.
Cullerton thinks new technology and fresh ideas could help Illinois facing what could be a $9 billion hole in next year's budget dramatically boost lottery revenues.
I would venture to say you could potentially even double it, the Chicago Democrat said in a recent intervi ...
Feb 16, 2009, 9:38 pm - Lottery News forum
DOJ says privatizing state lotteries illegal
Indiana drops privatization plans after DOJ issues opinion
Indiana Governor Mitch Daniels said Friday that he is dropping the idea of privatizing the Hoosier Lottery as an option of funding a college scholarship program after the U.S. Department of Justice said such a move would not comply with federal law.
The Oct. 16 opinion, which Daniels' office said was requested by Indiana and New Jersey, says states would not comply with federal law if they enter into long-term private management ag ...
Oct 28, 2008, 8:25 am - Lottery News forum
Illinois House approves privatizing state lottery
Illinois would raise $10 billion for building roads and schools by privatizing its state-run lottery for half a century under a plan the House approved Wednesday night.
After years of resisting, Speaker Michael Madigan and his House Democrats approved turning the lottery over to a private vendor because Gov. Rod Blagojevich and the Legislature have never agreed on another way to pay for a statewide construction program.
The House also voted to restore some of the painful budget cuts Gov. R ...
Sep 12, 2008, 3:15 am - Lottery News forum