State loses $136 million 2 years after privatising its lottery
New Jersey governor and US presidential hopeful Chris Christie faced damaging news this week when it was revealed the state lottery, which he privatised two years ago, saw a shortfall of $136 million in the state's budget.
Reporting on the issue after obtaining sight of internal state documents, the Associated Press news agency revealed that higher costs associated with the private company Northstar New Jersey have cut the state's income for the second straight year, creating a $136 million shortfall.
"The results are poor enough that the state is entitled to fire the company if its performance doesn't improve in the current fiscal year," the report concludes.
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