Friday, April 16, 2004

USVI: Lotto incompetence

ST. THOMAS - Although ticket sales have increased during last year, the V.I. Lottery continues to lose money, its executive director told the Senate Finance Committee on Tuesday.

Since the beginning of the fiscal year in October, the Lottery has been operating with a net loss of nearly $332,000. That is despite a 9.4 percent increase in ticket sales.

"I am not here to paint a glowing picture of the Virgin Islands Lottery," Executive Director Paul Flemming said before the committee. "The Lottery is facing some serious cash-flow problems."

Part of those problems are because of money lottery ticket agents owe. But the Lottery and its master agent, Caribbean Lottery Services, disagree over which entity is responsible for that debt.

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