New lottery deal cuts targets for New Jersey's take by $1B

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TRENTON, N.J. (AP) — An Associated Press analysis shows that New Jersey expects to earn $1 billion less from the state lottery after revisions were made to a 15-year contract with a private firm that runs part of it.

Gov. Chris Christie's administration unveiled the amended contract between the New Jersey Lottery and Northstar New Jersey on New Year's Eve.

The administration says a national downward trend in lottery revenues is to blame.

An AP review of the changes shows that income targets the company must meet or face penalties have been lowered by about $76 million per year over the 15-year contract.

The changes come after Northstar took over sales and marketing in 2013 with promises from the Christie administration that the lottery would grow, and remain "vigorous and successful."