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CORPORATE Lottery

Topic closed. 9 replies. Last post 9 years ago by guesser.

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Do you Feel State Lottery Should do Business with large foriegn based Lottery industries

never thought about it [ 1 ]  [6.25%]
No I dont aggree with the idea [ 3 ]  [18.75%]
ALL state Lotterys should be self controled [ 9 ]  [56.25%]
Foriegn companys should be banned [ 3 ]  [18.75%]
Total Valid Votes [ 16 ]  
Discarded Votes [ 4 ]  
computerhead723's avatar - lightbulb
Buffalo
United States
Member #54397
August 17, 2007
245 Posts
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Posted: October 11, 2007, 9:57 pm - IP Logged

Should  Getech  be  banned  from  doing  Business  with  state  controled  lotterys ?

    computerhead723's avatar - lightbulb
    Buffalo
    United States
    Member #54397
    August 17, 2007
    245 Posts
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    Posted: October 11, 2007, 9:59 pm - IP Logged

    Should  Getech  be  banned  from  doing  Business  with  state  controled  lotterys ?


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    NEW YORK LOTTERY EXTENDS GTECH’S ONLINE/INSTANTS SYSTEM CONTRACT FOR AN ADDITIONAL THREE YEARS

    PROVIDENCE, RI – (March 1, 2007) – GTECH Corporation, a wholly-owned subsidiary of Lottomatica S.p.A., announced that it has signed a three-year contract extension to continue providing lottery products and services to the New York Lottery through February 28, 2010. With respect to this contract extension, GTECH expects to receive in excess of $200 million in revenue over the three-year period.

    “The New York Lottery is one of the most successful lotteries in the United States , with total online and instant ticket sales expected to surpass $6.5 billion in its fiscal year ending in March 2007,” said W. Bruce Turner, GTECH President & CEO and Lottomatica S.p.A. CEO. “We are grateful to the Lottery for their continued confidence in our Company, and are proud to be a partner in the commitment of our customers to maximize returns for their good causes, such as education.”

    Under the terms of the contract extension, GTECH will continue its role as the Lottery's online and instant ticket system and ongoing service provider through February 2010. GTECH currently provides a variety of equipment and services for the Lottery including operation of the central system; system and terminal maintenance; field service; hotline management; and marketing support.

    The New York Lottery has been a valued GTECH customer since 1986. As one of the top performing and most efficient lotteries in the world, New York 's Lottery will return to the state more than $2.3 billion in total aid to education this fiscal year on revenues generated across all gaming products.

    GTECH is a leading gaming technology and services company, providing innovative technology, creative content, and superior service delivery.  Lottomatica is one of the world's largest commercial lottery operators and a market leader in the Italian gaming industry.  GTECH and Lottomatica together create a fully integrated lottery operator and gaming technology solutions provider – a combined company with worldwide scale, considerable financial strength, and industry-leading customer solutions.  Lottomatica is majority owned by the De Agostini Group, a century-old publishing, media, and financial services company. Lottomatica is publicly traded on the Italian Stock Exchange (LTO), and in FY 2005, had more than € 1.6 billion in revenues and 6,000 employees in over 50 countries when combined with GTECH.

      LANTERN's avatar - kilroy 28_173_reasonably_small.jpg
      Tx
      United States
      Member #4570
      May 4, 2004
      5180 Posts
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      Posted: October 12, 2007, 2:57 am - IP Logged

      Why is it worse now, just because the Italians bought it?

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        Northern California
        United States
        Member #19948
        August 9, 2005
        151 Posts
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        Posted: October 12, 2007, 2:47 pm - IP Logged

        I guess I don't get the original poll question - didn't seem to be an option there for "I think its OK" - all the options seemed the be variations of "no - don't let the foreigners do it". That kind of compromises the poll, IMO.

         

        Full disclosure - I actually did consulting fork for Goldman (indirectly) in assessing valuation of GTECH for the buyout.

         

        My first question is - what is the premise here? That only US controlled companies should be able to provide lottery systems in the US? That approach seems (at the least) to be antiquated in a global economy. No one complained when a US based company (then GTECH) had 75% world market share in lottery contracts - and the benefits that brought to the US economy (payroll manufacturing of terminals & equipment, etc.). The same applies to Scientific Games - who has extensive worldwide instant ticket share. And of course, Greek-owned Intralot has begun to purchase market share here in the US.

         

        Not one bit of contractual obligation changed with the change in GTECH control, and every lottery had to approve the transaction.  Each lottery retains the right to demand contract satisfaction.

         

        The "Lotteries should run everything on their own" option is laughable. For one, it hasn't worked well in the few states that have tried it. They do not have the expertise and end up spending way more trying to develop their own technology, which often doesn't work, than the provate sector does for things that HAVE to work. 

          Avatar
          Kingston, Ontario
          Canada
          Member #46867
          October 5, 2006
          106 Posts
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          Posted: October 12, 2007, 2:50 pm - IP Logged

          I discarded my vote ... on the premise that the best way to run a lottery is to have the direct state run the lottery themselves, as they do in Canada.   If they did, by not running with private operators or outside groups, then the state could technically run tax free games.  Since lotteries began here in Ontario in 1975, over 23 billion dollars has been generated for sports, culture, recreation, hospitals, culture and learning.  More money can be pumped into towns, villages, and projects.   No middle man.  They are also more accountable -- or can be scrutinized better.   The problems in Ontario this year proves that the government won't put up with flawed systems.  We now have stringent regulations that have never been seen before.  You can not buy or redeem a lottery ticket without signing it or proving its yours.  If its a large win, a background check is made on where and how you bought the ticket, how was your selections bought, and your affiliation (if any) with the lottery.  Complete integrity is a work in progress, by having outside groups run the games, you run a chance on harming a usually solid lottery system.    Trust is not given...it is earned.     

          "Together We're Making Good Things Happen,  Ontario's Lotteries...WE ALL WIN"

            computerhead723's avatar - lightbulb
            Buffalo
            United States
            Member #54397
            August 17, 2007
            245 Posts
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            Posted: October 13, 2007, 6:34 am - IP Logged

            I discarded my vote ... on the premise that the best way to run a lottery is to have the direct state run the lottery themselves, as they do in Canada.   If they did, by not running with private operators or outside groups, then the state could technically run tax free games.  Since lotteries began here in Ontario in 1975, over 23 billion dollars has been generated for sports, culture, recreation, hospitals, culture and learning.  More money can be pumped into towns, villages, and projects.   No middle man.  They are also more accountable -- or can be scrutinized better.   The problems in Ontario this year proves that the government won't put up with flawed systems.  We now have stringent regulations that have never been seen before.  You can not buy or redeem a lottery ticket without signing it or proving its yours.  If its a large win, a background check is made on where and how you bought the ticket, how was your selections bought, and your affiliation (if any) with the lottery.  Complete integrity is a work in progress, by having outside groups run the games, you run a chance on harming a usually solid lottery system.    Trust is not given...it is earned.     

            thats  my  vote  also  I  want  the  state  to  control  it  all  ...the  tickets  should  be  bought  here  in  NY   and  printed  ad  the  connection  with   terminal   leaseing  sould  be  banned;

            just  think   a  precentage  of  every dollar  spent  in  lottery   goes  to   outside  contractors,what  about  the  players  were  never  guareenteed  anymoney  back>

              computerhead723's avatar - lightbulb
              Buffalo
              United States
              Member #54397
              August 17, 2007
              245 Posts
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              Posted: October 13, 2007, 6:44 am - IP Logged

              I guess I don't get the original poll question - didn't seem to be an option there for "I think its OK" - all the options seemed the be variations of "no - don't let the foreigners do it". That kind of compromises the poll, IMO.

               

              Full disclosure - I actually did consulting fork for Goldman (indirectly) in assessing valuation of GTECH for the buyout.

               

              My first question is - what is the premise here? That only US controlled companies should be able to provide lottery systems in the US? That approach seems (at the least) to be antiquated in a global economy. No one complained when a US based company (then GTECH) had 75% world market share in lottery contracts - and the benefits that brought to the US economy (payroll manufacturing of terminals & equipment, etc.). The same applies to Scientific Games - who has extensive worldwide instant ticket share. And of course, Greek-owned Intralot has begun to purchase market share here in the US.

               

              Not one bit of contractual obligation changed with the change in GTECH control, and every lottery had to approve the transaction.  Each lottery retains the right to demand contract satisfaction.

               

              The "Lotteries should run everything on their own" option is laughable. For one, it hasn't worked well in the few states that have tried it. They do not have the expertise and end up spending way more trying to develop their own technology, which often doesn't work, than the provate sector does for things that HAVE to work. 

              well  I  don't  know  if  your   right  or  wrong  about   "

               (For one, it hasn't worked well in the few states that have tried it. They do not have the expertise and end up spending way more trying to develop their own technology, which often doesn't work, than the provate sector does for things that HAVE to work. ):

              Every  state  is  different  and  its  pile  of  qualified  personal ; I  know  NY   could  print  and design  instant  tickets :  and  most  of  the   terminals  could  also  be  designed  as  well  ;

              the  quick  way  cost  the  players   Billions   of  dollars  by  behind  the  sceins deals  with  Big  business :  to  me  its  more  than  entertainment;

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                Honduras
                Member #20982
                August 29, 2005
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                Posted: October 15, 2007, 2:11 am - IP Logged

                I wouldn't want playing the italian lottery....The italian Lottery is the worse lottery in the world, next to NY....Talking about a pick5/90, i don't know in God hell whose idea was that and whoever company invented i don't want a part of that company weither they are italians or whoever...

                  computerhead723's avatar - lightbulb
                  Buffalo
                  United States
                  Member #54397
                  August 17, 2007
                  245 Posts
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                  Posted: October 21, 2007, 3:47 am - IP Logged

                  I guess I don't get the original poll question - didn't seem to be an option there for "I think its OK" - all the options seemed the be variations of "no - don't let the foreigners do it". That kind of compromises the poll, IMO.

                   

                  Full disclosure - I actually did consulting fork for Goldman (indirectly) in assessing valuation of GTECH for the buyout.

                   

                  My first question is - what is the premise here? That only US controlled companies should be able to provide lottery systems in the US? That approach seems (at the least) to be antiquated in a global economy. No one complained when a US based company (then GTECH) had 75% world market share in lottery contracts - and the benefits that brought to the US economy (payroll manufacturing of terminals & equipment, etc.). The same applies to Scientific Games - who has extensive worldwide instant ticket share. And of course, Greek-owned Intralot has begun to purchase market share here in the US.

                   

                  Not one bit of contractual obligation changed with the change in GTECH control, and every lottery had to approve the transaction.  Each lottery retains the right to demand contract satisfaction.

                   

                  The "Lotteries should run everything on their own" option is laughable. For one, it hasn't worked well in the few states that have tried it. They do not have the expertise and end up spending way more trying to develop their own technology, which often doesn't work, than the provate sector does for things that HAVE to work. 

                  Well  I  will   ask  you   this  what  other  country  in  the   world  would  let  a  forigen company   run  or   do  business  from  a  government  controled  enterprise....its   an   American  controled  business  or  tax  ...its  open  to  the  world  to  play    but  ownership   should  be   state  controled  ..; 

                    guesser's avatar - Lottery-017.jpg

                    United States
                    Member #41383
                    June 16, 2006
                    1969 Posts
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                    Posted: October 22, 2007, 2:13 am - IP Logged

                    Aren't answer choices 2 and 4 the same, to some extent ?