An extension filed through Friday will allow Corbett more time to consider options.
Gov. Tom Corbett's chance to accept a bid from a British firm to manage the Pennyslvania lottery was about to run out. Had it not extended its offer, the firm's $3.5-billion bid would have expired Saturday at 5 p.m. According to 6ABC, a "top budget aide to Gov. Tom Corbett" has announced the extension. The extra time is designed to allow Corbett's office more time to consider options. The changes come on the heels of last week's announcement by Pennsylvania Attorney General Kathleen Kane who rejected Corbett' initial plan. "It is our duty to defend and protect the Constitution of our Commonwealth and that is what our office has done by declining this contract," Kane said on Friday. "She said the contract infringes on the Legislature's …
The Pennsylvania Lottery has generated more than $22.6 billion for state-run programs since the first game went on sale, according to the Department of Revenue.
Sunday, November 25, 2012
By Melissa Daniels | PA Independent HARRISBURG — Pennsylvania’s pursuit of privatizing management of the state lottery yielded only one interested party. The state announced Tuesday it received a bid from Camelot Global Services, which runs the National Lottery in the United Kingdom. Camelot estimates it would bring annual profit commitment of $12.1 billion in the first 10 years. Projections for a 20-year period, assuming a 27 percent mandated rate of return, would yield more than $34 billion in profits, according to the official bid tabulation. Department of Revenue press secretary Elizabeth Brassell said Wednesday the state had three qualified bidders in May. But two dropped out since then. One was interested in pursuing other commercial…