States are constantly trying to come up with marketing schemes that will help in sales of the state lottery. New Jersey is toying with an idea that would bring lottery sales into corporate stores.
Target and Home Depot have the clientele that the New Jersey state lottery is looking for. A new plan has been unveiled by State Senate President Richard Codey that would bring the lottery into these big corporate stores.
The plan calls for not only the sale of lottery tickets in big stores, but also allows for people to play using their cell phones. Clearly, the state is making an effort to increase lottery revenue.
“I don’t think it’s going to have major budgetary impact. It might help us keep parks open, but we’re not talking about a significant shift in dollars that’s going to change the context of the 2008-2009 budget,” said Governor Jon Corzine.
The problem with the new plan will be the opposition from stores that already sell the lottery tickets. Most of them are smaller stores, that would have a hard time competing for sales with these big time corporate stores.
The lottery is just one way that the state is trying to increase revenue. In the tough economic times that the country now faces, any source of extra income will be welcomed
Economy Hurts Las Vegas Casinos, February Revenue Down
Nevada casinos had a lot of things going in their favor in February. Different events, plus an extra day, were expected to lead to higher profits.
That was not the case, however. The profits from casinos in Nevada fell in February from the same month last year. The revenue decrease came despite the stars seemingly aligning for a revenue hike.
The Superbowl was in February, meaning that any events and parties Las Vegas had planned would help increase revenue. The month had a three day President’s Day weekend. The Monte Carlo reopened after a fire shut them down for a while. Yet revenues dropped from last February.
$1.01 billion was won by the casinos. That number was down four percent from February of 2007. This year, there was even an extra day due to it being a Leap Year. That had little effect on the outcome of the month.
What did have an effect, and will continue to have an effect, is the economy. People simply do not have the money to travel on vacations to Sin City. Money that used to be used for entertainment purposes, is now having to be used to pay bills. “We were disappointed but we can’t say it was unexpected. It’s definitely a reflection of the soft economy and people tightening up their spending habits,” said Frank Streshley, Gaming Control Board Analysts, while releasing the new figures.