Talks continue on the privatization of Pennsylvania's Lottery.
The state and Camelot Global Services PA LCC have agreed to extend Camelot's bid to Jan. 10. The bid window had originally been set to close on Dec. 31.
The extension will allow the union representing lottery employees to present a counter proposal. It also allows additional time for Kroll Advisory Solutions, a risk mitigation firm, to complete its final report regarding the suitability of Camelot as a potential private manager.
Camelot's bid proposes $34 billion – and 20 years' worth of lottery profit growth – should the private management agreement be executed.
The state began exploring the option of private management of the lottery last April. The lottery debuted in 1971 to generate funds for programs benefiting older adults.