Wednesday, May 8, 2013
The focus should be on growing these profitable gaming markets rather than trying to dismantle successful assets, State Sen. Wayne Fontana says.
Wednesday, May 8
Throughout its more than 40 years in existence, the Pennsylvania Lottery has funded approximately 75 percent of the state’s Department of Aging budget through programs that offer low-cost prescription drugs, free and reduced-fare transit, property tax and rent rebates, long-term living services and senior centers. Today, our Lottery is one of the most profitable in the nation. When Pennsylvania legalized slots gaming in 2004 and expanded to table games in 2010, one of the issues the Legislature faced was how the state’s lottery would be affected by these additions to the gambling industry. Recognizing the concerns, a provision was included in Act 71 of 2004 that requires the Legislative Budget and Finance Committee (LB&FC) to issue annual…
Friday, February 15, 2013
State Sen. Matt Smith was one of many local politicians to applaud the decision. However, Republicans are calling the decision "blatantly political" and vowed to challenge the decision.
Pennsylvania Attorney General Kathleen Kane has rejected the Corbett Administration’s plan to privatize the management of the Pennsylvania Lottery to a U.K.-based company Camelot Global Services—and Senate Democrats lauded the plan. "It has been clear from the beginning that the Corbett administration’s plan to privatize the management of the lottery was flawed and could potentially jeopardize vital senior programs, " State Sen. Matt Smith, D-Mt. Lebanon said today in a statement. Smith said the plan lacked transparency, noting that the public has not been able to glean specific details about the plan and what it would mean for the many senior programs funded through lottery proceeds. “I was particularly troubled by the drastic expansion …
Wednesday, January 16, 2013
The first-term Democratic state senator called the decision to hire a British-based company to run the Pennsylvania Lottery a “risky scheme” and questioned the motivation of Gov. Tom Corbett.
State Sen. Matt Smith is questioning how Gov. Tom Corbett’s administration made the decision to hire a British company to run the Pennsylvania Lottery. The first-term Democratic senator from Mt. Lebanon said a hearing with the Finance Committee helped to shed light on the decision-making process by the administration, but it “does not forgive the actions taken that effectively cut the public and specifically seniors out of the process” to select the private operator. The Corbett administration last week issued a notice of award to Camelot Global Services, a British-based company, to manage the Pennsylvania Lottery. The governor’s office has said privatizing the lottery will add billions to the state coffers to help its aging population. …
Sunday, December 9, 2012
This week, some state House Democrats voiced their opposition to Gov. Corbett's plan to award a contract to privatize the lottery to Camelot Group—with no other bidders in the running.
The Pennsylvania Lottery is one of the most successful and well-managed state lotteries in the nation. Last year, the PA Lottery had annual sales in excess of $3.2 billion and, according to House Democrats, has held administrative costs to record lows of just over 2 percent. According to DailyFinance.com, Pennsylvania State Lottery has steered $20.6 billion to a variety of causes since it began, but its profits have primarily been funneled into an elderly benefits fund. This fund includes subsidies for transportation, tax rebates and Medicare. As of last year, about 61 percent of the annual ticket sales go to prizes, 30 percent goes to the state and the rest is for expenses. That's a higher percentage of prize return than most other states…
Friday, November 9, 2012
State officials release terms for the potential agreement—which calls for a $150 million upfront payment to the state—in an announcement today.
The state Department of Revenue on Friday announced key terms of a potential private management agreement for the Pennsylvania Lottery. Such an agreement would turn over some unspecified duties of managing the lottery to a private company, which would pay the state up front but then would be compensated for its work. State officials earlier this year began looking at privatizing the lottery as a way of maximizing its revenue. According to a release, key terms of the agreement would include: Now that the scope and terms of a management contract have been determined, a multi-agency team is exploring private management and is reviewing the business plans of qualified bidders. Those business plans will include each qualified bidder’s proposal …