Report: Ill. lottery manager short $100M on profit
SPRINGFIELD – The Illinois Lottery's private manager fell nearly $100 million short of the profits it promised to deliver the state in its first year of operation, according to a published report Tuesday.
Northstar Lottery Group pledged to reap $825 million in profits when it took over lottery management in July 2011 and later lowered its estimate to $770 million. An analysis by the Chicago Tribune puts the results at $726 million in net revenue at the end of the fiscal year.
That's still a record profit for the lottery, which collected $690 million the year before.
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