(TRENTON) – Assembly Budget Committee Chair Gary S. Schaer (D-Bergen/Passaic) issued the following statement Monday following a story by Bloomberg reporting that the New Jersey Lottery, which is now run by a private firm, has fallen short of revenue projections:
“The Christie administration’s continued failure to meet its own revenue projections puts the state at risk in meeting its budgetary obligations. The consequences and ramifications of the latest revenue over estimation – the State Lottery – puts at rick numerous programs for seniors, the disabled and military veterans, core priorities for all New Jerseyeans.
“The Northstar Lottery contract, the private firm hired to manage the state lottery, is contingent on increasing lottery revenues based upon Northstar’s own projections. The contract must be reviewed, especially if claims that the firm asked lottery officials to revise their projections so they could meet their revenue goals are true. More than that, underlying assumptions need to be reexamined to ensure New Jersey meets its obligations to its citizens.”