Trenton looks to pick Winner for states lottery
August 14,2012
the staff of the Ridgewood blog
Ridgewood NJ, The state of New Jersey looking for bids for the right to run the state’s massive lottery .
The winning bid could fetch over $120 million up front and a share of profits annually, according to The Asbury Park Press, which first reported on the plan. The winner could see potential profits of over $1 billion for the length of the contract that would run from next year until 2029.
The NJ Lotter is the 8th largest in the US . Former Gov. Jon Corzine’s administration had explored the idea of letting a private company run the lottery previously . Last years a task force recommended the change to Gov. Chris Christie . Several other states like Illinois have outsourced their lottery operations and more states are also looking into privatization.
