International edition
November 19, 2017 | Edition Nº3368

Office of Legislative Services said the sector is predicted to miss its goal for 2017 as well

New Jersey lottery sales drop for third year in a row

New Jersey lottery sales drop for third year in a row
The local industry is being managed by Northstar New Jersey firm, but since 2013 the company has missed its income projections and spent USD 20M in allowance funds to cover financial shortfalls.
United States | 04/19/2017

The local industry is being managed by Northstar New Jersey firm, but since 2013 the company has missed its income projections and spent USD 20M in allowance funds to cover financial shortfalls.

T

he Record reports showed that Northstar New Jersey promised a return of over $1.4 billion over 15 years- when Republican Gov. Chris Christie privatized the sector 2013- but since then firm lowered its projections by $1 billion after renegotiating a contract in 2015.

Christie said he's not concerned about the missed targets and described the shortfall as a problem plaguing lotteries across the country. However, industry magazine Insights reports all state lotteries but one — West Virginia — saw revenue gains last year.

Gary Schaer, Democratic chairman of the Assembly Budget Committee in New Jersey, criticized the company's "poor track record" saying "they blame it on everything." The state pays Northstar a combination of fees and incentives that totaled $134 million last year.

Republican Gov. Bruce Rauner fired Northstar firm in Illinois, the first state to privatize the lottery, after the company fell half a billion dollars short of its projections. 

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