NJ considers privatizing lottery
New Jersey is asking lottery companies to bid for the right to run the state's massive game of chance. It would cost the winning bidder $120 million up front and a share of profits annually. But the
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Aug 14, 2012, 12:02 PM
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Updated 4,447 days ago
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New Jersey is asking lottery companies to bid for the right to run the state's massive game of chance.
It would cost the winning bidder $120 million up front and a share of profits annually.
But the winner could make more than $1 billion over the course of a contract that would run from next year until 2029.
A task force recommended the change to Gov. Chris Christie last year.
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