Re-worked Contract, Jump In Scholarships Improve Lottery Outlook
by Roby Brock (roby@talkbusiness.net) June 20, 2012 8:37 am 76 views
Lottery Director Bishop Woosley spoke to a legislative oversight committee on Tuesday as reported by John Lyon with our content partner, the Arkansas News Bureau:
Woosley said the budget for fiscal 2013 was prepared before he recently renegotiated the terms of the lottery’s contract with its vendor for scratch-off tickets, Scientific Games. The company has agreed to lower its payment rate from 1.92 percent of scratch-off ticket sales to 1.81 percent, which Woosley said will mean an additional $430,000 in annual profits for the lottery if sales remain constant.
Scientific Games also agreed to give the lottery a $2 million incentive payment and advance $200,000 i
in this report.zp8497586rq
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