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Illinois Lottery Not Profitable Enough; Manager Owes State $20-Mil
CHICAGO (AP) — Gov. Pat Quinn says there’s need for improvement after the private manager of the Illinois Lottery fell short of promised profits.
The lottery says that Northstar Lottery Group projected net income of about $851 million for fiscal year 2012. The lottery says profits actually were $757 million, about $95 million short. Northstar took over management of the Illinois Lottery in July 2011.
Quinn told reporters Monday in Chicago after an unrelated event that the management model needs improvement. He didn’t offer many specifics but says one fix could be trying to attract more people to play the lottery.
The profit targets are part of a management agreement between the lottery and Northstar. The agreement says Northstar must pay the lottery $20 million if it doesn’t reach the target.