A potential deal to privatize management of the Pennsylvania Lottery was put off for an additional 10 days on Monday after Gov. Tom Corbett and a British company agreed to extend negotiations.
Hours before the $34 billion bid by Camelot Global Services PA LLC was set to expire, Corbett's Revenue Department announced the bid was extended until Jan. 10.
Hours before the $34 billion bid by Camelot Global Services PA LLC was set to expire, Corbett's Revenue Department announced the bid was extended until Jan. 10.
The Revenue Department said the additional period would provide sufficient time for the lottery workers' union to submit a proposal of its own. The state also is waiting for a risk mitigation consultant's report about whether Camelot is a suitable manager, and state lawmakers have raised questions about the proposal.
Camelot, which runs the national lottery in the United Kingdom and is a consultant to the California Lottery, is pledging to generate at least $34 billion in profits over a 20-year contract. The company released a statement Monday that said it hoped to retain "as many current lottery employees as possible" and that it intended to incorporate and locate all operations in Pennsylvania.
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