After Christie’s privatization, NJ lottery missing targets

[dbackjon]

When Chris Christie privatized New Jersey’s lottery two years ago, he said its new overseers would “modernize and maximize” the games.



Instead, a lottery once ranked among the nation’s top performers is now lagging for the second straight year, trailing its state income targets by $64 million seven months into the current fiscal year. Meanwhile, the company running it has spent hundreds of thousands of dollars to hire lobbyists and a public relations firm with close ties to the governor.

New Jersey lawmakers anticipated receiving nearly $1.04 billion in income from the lottery this year, a number reduced to just $955 million in a revised budget released this month. Having collected an estimated $510 million seven months into this fiscal year, the lottery is not on track to meet even its lowered expectations.

http://www.salon.com/2015/04/01/after_c ... targets_2/" onclick="window.open(this.href);return false;

The shortfalls could mean budget cuts to programs directly funded by the lottery system — such as after-school care, programs for veterans and education for the deaf — should the lottery’s fortunes not improve.

The lottery’s woes are one piece of New Jersey’s fiscal troubles, which include transportation funding shortfalls and underfunded state pensions. At a state assembly budget hearing earlier this week, state Treasurer Andrew Sidamon-Eristoff blamed the lottery’s underperformance on industry-wide trends and a shortage of big jackpots in multi-state games such as Powerball to drive sales.

[Ivytalk]

Meh. Aren't lottery takes down all over the country? People can't afford to gamble.

Delaware, which aims to balance its budget through slot machines, certain types of gaming, escheat claims, and business entity fees, not to mention good old income taxes, is facing declines in all of them.

[Chizzang]

Meh. Aren't lottery takes down all over the country? People can't afford to gamble.

Delaware, which aims to balance its budget through slot machines, certain types of gaming, escheat claims, and business entity fees, not to mention good old income taxes, is facing declines in all of them.

That ^ doesn't exactly explain why operating costs are up..?
and why the privatized company has actually MORE employees working the Lottery than the state did..?

How do you have MORE employees than a state run anything... seriously

[YoUDeeMan]

http://www.nj.com/politics/index.ssf/20 ... short.html" onclick="window.open(this.href);return false;

"Under the contract, Northstar took over lottery sales and marketing. It paid the state $120 million up front and promised to generate at least $1.42 billion more over the next 15 years. In turn, Northstar gets to keep 5 percent of the increases if it meets its goals.

Christie can cancel the contract if the firm misses its revenue targets for two years."

So, let's review. The company paid New Jersey $120, and actually RAISED lottery sales in their first year, meaning MORE income, but missed sales projections.

So, they are again missing projections, but still might raise actual income and revenues.

If they missed projected revenues again, their contract can be cancelled.

So who is complaining? Oh, that's right...the lottery's union members who lost their jobs.

[YoUDeeMan]

Meh. Aren't lottery takes down all over the country? People can't afford to gamble.

Delaware, which aims to balance its budget through slot machines, certain types of gaming, escheat claims, and business entity fees, not to mention good old income taxes, is facing declines in all of them.

That ^ doesn't exactly explain why operating costs are up..?
and why the privatized company has actually MORE employees working the Lottery than the state did..?

How do you have MORE employees than a state run anything... seriously

They run multiple sate lottery operations.

[Chizzang]

That ^ doesn't exactly explain why operating costs are up..?
and why the privatized company has actually MORE employees working the Lottery than the state did..?

How do you have MORE employees than a state run anything... seriously

They run multiple sate lottery operations.

Indeed
They do run three state lottery's - all of which are below projections
(according to Salon, so who knows really)

Why would other states have an effect on the number of NJ Lottery employees..?

[houndawg]

http://www.nj.com/politics/index.ssf/20 ... short.html" onclick="window.open(this.href);return false;

"Under the contract, Northstar took over lottery sales and marketing. It paid the state $120 million up front and promised to generate at least $1.42 billion more over the next 15 years. In turn, Northstar gets to keep 5 percent of the increases if it meets its goals.

Christie can cancel the contract if the firm misses its revenue targets for two years."

So, let's review. The company paid New Jersey $120, and actually RAISED lottery sales in their first year, meaning MORE income, but missed sales projections.

So, they are again missing projections, but still might raise actual income and revenues.

If they missed projected revenues again, their contract can be cancelled.

So who is complaining? Oh, that's right...the lottery's union members who lost their jobs.

They can teach school with your wife. You union folk are all in it together, right, comrade cuck?

How much do you think the kickback to Christie accounts for?

[YoUDeeMan]

http://www.publicgaming.com/index.php?o ... &Itemid=30" onclick="window.open(this.href);return false;

JUNE 2014 Report:

FY2013:

NJ earned $1.08B compared to $950MM the year before.

Although that contained an accelerated payment of $120MM, revenue was still $960MM...better than the year before.


Again, REVENUE WAS UP!!!

It is the unions that are complaining.

[YoUDeeMan]

They run multiple sate lottery operations.

Indeed
They do run three state lottery's - all of which are below projections
(according to Salon, so who knows really)

Why would other states have an effect on the number of NJ Lottery employees..?

Do you know where the company is based? Perhaps they have more people in New Jersey than in other states? And, wouldn't that be better for New Jersey's tax rolls?

Revenues are up...more jobs...and yet someone is complaining.

Unions are leading the charge.

[houndawg]

http://www.publicgaming.com/index.php?o ... &Itemid=30

JUNE 2014 Report:

FY2013:

NJ earned $1.08B compared to $950MM the year before.

Although that contained an accelerated payment of $120MM, revenue was still $960MM...better than the year before.


Again, REVENUE WAS UP!!!

It is the unions that are complaining.

Of course they're complaining, union members and their families all are parasites who never did an honest days work in their whole lives.

[Chizzang]

Indeed
They do run three state lottery's - all of which are below projections
(according to Salon, so who knows really)

Why would other states have an effect on the number of NJ Lottery employees..?

Do you know where the company is based? Perhaps they have more people in New Jersey than in other states? And, wouldn't that be better for New Jersey's tax rolls?

Revenues are up...more jobs...and yet someone is complaining.

Unions are leading the charge.

I don't doubt that...



But why would the State Representative say that the Lottery has "A lot of ground to make up"

[YoUDeeMan]

They can teach school with your wife. You union folk are all in it together, right, comrade cuck?

How much do you think the kickback to Christie accounts for?

Awwwww, you're kinda cute when you are playing in your own poop.

Unions suck...that's why they are still declining. They are controlled by thugs who extort the stupid collective. You complain about management while you praise the workers and the unions, but unions are simply another form of bad management.

Don't worry, you'll figure it out someday if you manage to ask a 3rd grader (without violating your parole conditions). Any one of them should be able to explain it to you.

[YoUDeeMan]

Woo-hoo!

[houndawg]

They can teach school with your wife. You union folk are all in it together, right, comrade cuck?

How much do you think the kickback to Christie accounts for?

Awwwww, you're kinda cute when you are playing in your own poop.

Unions suck...that's why they are still declining. They are controlled by thugs who extort the stupid collective. You complain about management while you praise the workers and the unions, but unions are simply another form of bad management.

Don't worry, you'll figure it out someday if you manage to ask a 3rd grader (without violating your parole conditions). Any one of them should be able to explain it to you.

You need to get your lazy ass wife out of that union and into the free market where she can make what she's worth. Oh, wait....

[YoUDeeMan]

Crap...houdawg escapes.

[YoUDeeMan]

You need to get your lazy ass wife out of that union and into the free market where she can make what she's worth. Oh, wait....

Hmmmmmmmmmmmmm...houndpuppy is a lonely dude.

[YoUDeeMan]

Do you know where the company is based? Perhaps they have more people in New Jersey than in other states? And, wouldn't that be better for New Jersey's tax rolls?

Revenues are up...more jobs...and yet someone is complaining.

Unions are leading the charge.

I don't doubt that...



But why would the State Representative say that the Lottery has "A lot of ground to make up"

You're not following the conversation, are you?

Maybe your interweb is slow.

[travelinman67]

BREAKING!!
Cluck KO Streak Continues!!
Inks Mega Deal To Fight Winner Of
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[89Hen]

Wonder why Travis stopped posting after creating the thread.

[houndawg]

You need to get your lazy ass wife out of that union and into the free market where she can make what she's worth. Oh, wait....

Hmmmmmmmmmmmmm...houndpuppy is a lonely dude.

Translation: My wife's union gig provides us with a living wage and bennies. I really resent that.

[travelinman67]

Hmmmmmmmmmmmmm...houndpuppy is a lonely dude.

Translation: My wife's union gig provides us with a living wage and bennies. I really resent that.

Translation: WaaaaaaaaaAAAAAAAHHHHHH! Leave Me ALONE!!!

[Chizzang]

I don't doubt that...



But why would the State Representative say that the Lottery has "A lot of ground to make up"

You're not following the conversation, are you?

Maybe your interweb is slow.

I couldn't care less about your other conversations...
I'm talking about the article and the responses from the State in regards to their lottery system

I read very few of your posts that aren't addressed to me (sorry)
But I am curious about the Salon Article and its implications vs. the reality

[Wedgebuster]

You're not following the conversation, are you?

Maybe your interweb is slow.

I couldn't care less about your other conversations...
I'm talking about the article and the responses from the State in regards to their lottery system

I read very few of your posts that aren't addressed to me (sorry)
But I am curious about the Salon Article and its implications vs. the reality

I don't read any of them, and this place is much nicer just for that reason.

[dbackjon]

Wonder why Travis stopped posting after creating the thread.

My work here was done


I report, you guys bicker

[89Hen]

Wonder why Travis stopped posting after creating the thread.

My work here was done


I report, you guys bicker