TRENTON – New Jersey’s Treasurer says he expects the state to receive a check for $120 million from the privatization of the lottery deal “within days.”
Treasurer Andrew Sidamon-Eristoff told Senate lawmakers he believes protests filed by New Jersey unions against the privatization plan could be resolved as soon as today. The resolution would mean the state could receive its upfront payment for the sale within days, he said.
“We have a protest [to the proposal] we expect to be resolved, I’m hoping, today,” Sidamon-Eristoff said.
As part of the sale of the lottery’s marketing and administrative departments, the company set to take over operations agreed to pay the state $120 million upfront.
David Rosen, budget officer for Office of Legislative Services, said earlier Monday that he was unaware of the status of the sale. He warned lawmakers any hiccup in the transaction could disrupt Fiscal Year 2013 revenues.
Sidamon-Eristoff gave indication hours later the state expects to receive the funds without any disruptions.