TRNETON, N.J. (AP) — Companies interested in running
the New Jersey Lottery showed up for a mandatory pre-privatization meeting in
Trenton on Thursday.
The state Treasury Department is looking to hand over daily operations to a
The operator will be required to pay $120 million up front and sign a 15-year
The state believes a privately managed lottery could bring in substantially
more net income than the current $959 million.
New Jersey's lottery is the eighth largest among the 50 states and employs
150 people, mostly to manage the network of lottery retailers.
It's on pace to generate nearly 5 percent more revenue than last year.
Vendors have until Nov. 15 to submit their proposals to the