This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Statewide Coalition Launches Effort To Protect Lottery

SCRANTON, Pa., Dec. 12, 2012 /PRNewswire-USNewswire/ -- Seniors and working Pennsylvanians across the state today announced the launch of Protect Our Lottery – www.protectourlottery.org – a coalition committed to ensuring the long-term viability of the life-saving programs the lottery funds.

"Seniors across the state are concerned about Gov. Corbett's risky scheme to privatize management of the lottery – and rightly so. There have been no public hearings. Lawmakers in both parties are frustrated because they don't have all the facts so they can make an informed decision," said Jean Friday, President of the PA Alliance for Retired Americans.  "The Corbett administration owes it to every Pennsylvanian to open this process up and allow the public and our elected lawmakers to participate."

The Corbett administration is pursuing a deal to turn over management of the lottery to Camelot Global Services, a gaming firm based in the United Kingdom.  Camelot is the only company to 'bid' for the lottery after closed door negotiations. The company has put a Dec. 31 deadline on the state to accept its offer.

"The lottery provided more than $1 billion to programs for seniors – from paying for prescription drugs and property tax relief to funding for senior centers and nursing home care. Now, all of a sudden, we're running a 'year-end clearance sale' for this valuable asset? It's absurd," said David Fillman, Executive Director of AFSCME Council 13.

"It goes without saying that we're concerned about 170 hard working employees who will be put out on the street if the lottery is privatized. But the stakes here are much greater and every senior and every Pennsylvanian should be concerned," Fillman said.

As part of the takeover, Camelot will launch Keno and potentially other online games as well as online ticket sales.  The Corbett administration maintains that it has the legal authority to expand gambling without seeking legislative approval.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,011.94 -28.43 -0.16%
S&P 500 2,109.60 -2.13 -0.10%
NASDAQ 5,076.5240 -6.4050 -0.13%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs