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* From the Tribune we find a story about the company which manages the state Lottery…
Northstar Lottery Group — which took charge of daily operations July 1, a few days after the Illinois auditor general blasted the selection process — promised to boost revenue by more than $100 million.
While the dollars are indeed up, they are expected to fall $55 million short of their projections, renewing criticism from those who had opposed the deal.
* The company promised $825 million in total revenues. It’s on track to bring in $770 million. That may actually be a $100 million increase, as you’ll find if you read way down deep into the article explains…
Northstar said several factors led to the lowered forecast, chief among them the fact that the lottery’s revenue for the previous fiscal year was about $668 million, not the $712 million the state anticipated.
But, as the article notes, the Lottery claims it transfered $690 million last fiscal year to the state budget. Nobody could explain the discrepancy.
Northstar has to meet a specific goal or it’ll be fined. According to the Trib, if the company hits the $770 million projection, it would owe nearly $11 million in penalties…
In a move aimed at avoiding possible penalties, Northstar wants the state to lower the goals.
Officials with Northstar and the Illinois Lottery refused to discuss what new revenue targets the company is seeking through arbitration.
What we really need here are the real numbers. The Lottery needs to start sharing. Pronto.
posted by Rich Miller
Monday, May 7, 12 @ 11:31 am
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Previous Post: Man bites dog
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Ha. Pay up or fold.
Comment by Mouthy Monday, May 7, 12 @ 11:40 am
Their Fiscal Year 2011 annual report still isn’t up on the website and we’re in May.
So much for private management improving efficiency.
Comment by Freeman Monday, May 7, 12 @ 11:55 am
MONEY + BEAN COUNTERS + IL STATE GOV’T = MESS
Comment by Dan Shields, Springfield, IL Monday, May 7, 12 @ 11:59 am
MONEY + BEAN COUNTERS + PRIVATE CONTRACTORS = MESS
Comment by Biftwich Monday, May 7, 12 @ 12:23 pm
yepper, lets turn this over to the private sector. where’s the transparency? doesnt seem right to have lottery officials negotiate lower goals (performance) with their management company.
Comment by langhorne Monday, May 7, 12 @ 12:24 pm
This sounds like a job for Frank “Lefty” Rosenthal and Donald “The Wizard of Odds” Angelini.
If projections are still short, they can call in Tony “The Ant” Spilotro.
Those guys knew how to run a numbers game.
Comment by wordslinger Monday, May 7, 12 @ 5:06 pm