Lottery profit smaller than it appears | Arkansas Blog

Thursday, July 12, 2012

Lottery profit smaller than it appears

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

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: , ,


Sign up for the Daily Update email
Favorite

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

Readers also liked…

  • A response to police arrests becomes a tutorial on race, class and policing in Little Rock

    John Walker, the 79-year-old civil rights lawyer, and his associate, Omavi Shukur, 29, a young lawyer devoted to criminal justice reform, talked to press this afternoon about their arrests Monday by Little Rock police for supposedly obstructing governmental operations in observing and attempting to film a routine police traffic stop. It was a tutorial on sharp views of race, class and governance in Little Rock.
    • Sep 29, 2016
  • ADEQ denies C&H Hog Farm permit

    The Arkansas Department of Environmental Quality has denied a new permit for the C&H Hog Farms' concentrated animal feeding operation near Mount Judea (Newton County). This is a big and somewhat surprising victory for critics who have viewed C&H's large-scale pig farm and the pig waste it generates as an existential threat to the Buffalo National River.
    • Jan 10, 2018
  • Donald Trump declares war on Hillary Clinton's marriage

    Donald Trump gave a remarkable interview to the New York Times yesterday in which he declared open season on the marriage of Bill and Hillary Clinton and Bill Clinton's past infidelity. Seems like a loser, but I've been wrong before.
    • Oct 1, 2016

Most Viewed

Most Recent Comments

Slideshows

 

© 2018 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation