Find out more →

Get unlimited access. Become a digital member!

Thursday, July 12, 2012

Lottery profit smaller than it appears

Posted By on Thu, Jul 12, 2012 at 9:15 AM

click to enlarge PURE PROFIT: Ernie P.'s departure produced $324,000 annual profit for lottery.
  • PURE PROFIT: Ernie P.'s departure produced $324,000 annual profit for lottery.

PURE PROFIT: Ernie P.s departure produced $324,000 annual profit for lottery.
  • PURE PROFIT: Ernie P.'s departure produced $324,000 annual profit for lottery in salary saving.
Big headlines this morning for the news yesterday that the Arkansas Lottery finished the fiscal year June 30 $3.4 million ahead of last year.

Of course, $2 million of that came from a partial giveback by vendor Scientific Games of the sweetheart contract revision deal cut without commission or legislative approval by former Lottery Director Ernie Passailaigue. The Commission has since okayed the sweetheart deal, but not until after payments in excess of the original contract at a rate, if all had been realized, of an additional $3 million a year.

Forgot one other small item, too.

The lottery saved at least roughly $500,000 in salaries ended with the departure of Passailaigue and the two other members of the $774,000 Gamecock trio that scuttled home last year after a brief run at the top of the Arkansas lottery pecking order. And that $774,000 was just their salaries, not employee match overhead. Salary savings alone knock the true lottery profit increase below the $1 million level. None of the Gamecocks was replaced, you'll recall. Existing employees took up their duties.

All this matters only because if the lottery profits are hitting a static plateau, that means scholarship growth won't occur and, against rising college costs, will count for less.

Tags: , ,

Favorite

Speaking of Arkansas Lottery, Ernie Passailaigue

Comments (10)

Showing 1-10 of 10

Add a comment

 
Subscribe to this thread:
Showing 1-10 of 10

Add a comment

More by Max Brantley

  • Nothing to show for making nice

    I'm at anchor on a ship lying off Grand Turk Island, and I should have known better than to pick up the digital Arkansas Democrat-Gazette, particularly given the painfully slow download time on the ship's satellite Internet. But I did and began a slow burn.
    • Mar 26, 2015
  • A volcanic eruption in the Caribbean: Should Democrats go along?

    A volcanic eruption from the Caribbean: Some Democrat please tell me what's been gained by going along to get along with Republican leadership. A free dinner courtesy of Doyle Webb?
    • Mar 24, 2015
  • More »

Most Shared

  • Cotton speech draws protest

    Protesters greeted Tom Cotton today at an event held by the Foreign Policy Initiative, the neocon think tank founded by Cotton cheerleaders Bill Kristol and Robert Kagan, called (of course) "Will Congress provide for the Common Defense? National Security priorities in an increasingly dangerous world."
  • Mike Preston of Florida tapped as next director of Arkansas Economic Development Commission

    Mike Preston, vice president for Government Relations with Enterprise Florida, is Gov. Asa Hutchinson's choice as the next director of the Arkansas Economic Development Commission, reports Roby Brock at Talk Business. Preston will be tasked with doling out millions in corporate welfare to bring in and retain businesses in the state. Hutchinson decided not to keep Grant Tennille, who served in the role under Gov. Mike Beebe, on the job.
  • Anti-gay legislation prompts Human Rights Campaign to run ad in Silicon Valley newspaper

    At a press conference today, Chad Griffin, Arkansas native and president of the Human Rights Campaign, the country's largest LGBT advocacy group, announced that his organization will run a full-page ad (see below) in the San Jose Mercury News, Silicon Valley's largest paper, suggesting that Arkansas is closed for business due to HB 1228, the discriminatory, anti-gay measure making its way through the legislature. It could be up for consideration by the Senate today.
  • In wake of Harris rehoming revelations, broader review of child welfare system begins

    This morning, I spoke with Paul Vincent, the child welfare expert Gov. Asa Hutchinson has selected to conduct a review of the foster care and adoption system at the state Department of Human Services.
  • Lindsey's Resort on Little Red River to close after 50 years

    A note on the website of Lindsey's Resort, the popular trout-fishing destination on the Little Red River at Heber Springs, says the resort will be forced to close due to a bank foreclosure.

Most Viewed

  • $4 billion tech company calls it quits in Indiana over anti-LGBT 'Religious Freedom' bill.

    Take heed, Arkansas: the same day Gov. Mike Pence of Indiana announced he would sign the state's "Religious Freedom Restoration Act" — an anti-LGBT bill with disturbing similarities to Rep. Bob Ballinger's HB 1228 — a $4 billion tech company announced they're pulling up stakes there rather than "require our customers/employees to travel to Indiana to face discrimination." Ouch.
  • Anti-gay legislation prompts Human Rights Campaign to run ad in Silicon Valley newspaper

    At a press conference today, Chad Griffin, Arkansas native and president of the Human Rights Campaign, the country's largest LGBT advocacy group, announced that his organization will run a full-page ad (see below) in the San Jose Mercury News, Silicon Valley's largest paper, suggesting that Arkansas is closed for business due to HB 1228, the discriminatory, anti-gay measure making its way through the legislature. It could be up for consideration by the Senate today.
  • Duck Dynasty patriarch Phil Robertson peddles fantasy of raping and torturing atheist family

    Oh dear. Paradigm of conservative cultural authenticity, Phil Robertson, patriarch of A&E's "Duck Dynasty," conjured up a gruesome fantasy of the rape and torture of an atheist family in a speech to the Vero Beach Prayer Breakfast, later broadcast on the “Trunews” radio program by host Rick Wiles.
  • David Burnett flips, letting anti-gay and Ten Commandments bills out of committee

    Bring on the court challenges! Someone or another got to Democratic Sen. David Burnett and he flipped, caving and providing the needed fifth vote to pass a couple of Jerry Cox specials out of committee: HB1228, the so-called "conscience protection" bill from Bob Ballinger which would ensure protection for legal discrimination against gay people and SB939, the bill from Sen. Jason Rapert mandating that the Secretary of State build a monument commemorating the Ten Commandments on the Capitol grounds.
  • House rejects Rep. Leding's bill to stop sentencing juveniles to life without parole

    The House of Representatives voted down HB 1197, the bill by Rep. Greg Leding (D-Fayetteville) that would have ended the practice of sentencing minors convicted of capital murder to life in prison without the possibility of parole. The vote was 29-53 against the legislation.

Most Recent Comments

Blogroll

 

© 2015 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation