``ABC Liquor'' Named Lottery's November 2002 Retailer of the Month; SuperLotto Plus Jackpot Soars to $82 Million.Business/News Editors SACRAMENTO, Calif.--(BUSINESS WIRE)--Oct. 9, 2002 The California Lottery lottery, scheme for distributing prizes by lot or other method of chance selection to persons who have paid for the opportunity to win. The term is not applicable when lots are drawn without payment by the interested parties to determine some matter, e.g. announced ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. Liquor liquor /li·quor/ (lik´er) (li´kwor) pl. liquors, liquo´res [L.] 1. a liquid, especially an aqueous solution containing a medicinal substance. 2. in Garden Grove Garden Grove, city (1990 pop. 143,050), Orange co., S Calif., a suburb of Long Beach and Los Angeles, on the Santa Ana River; founded 1877, inc. 1956. Many of its residents work in nearby aerospace and defense installations, and there is light manufacturing. as the California Lottery's Retailer of the Month for November 2002. The ceremony is scheduled for Thursday, October 10, 2002 at 10:30 a.m. and it will be held at ABC Liquor, 12435 Haster Street in Garden Grove. ABC Liquor averages nearly $14,000 in Lottery sales per week and has total sales-to-date of more than $2.22 million since it began selling Lottery products in May of 1988. With a minimum of 34 percent of all Lottery ticket sales benefiting public education, ABC Liquor has contributed more than $756,000 to California's public schools. Owners Balbir "Bob" Bhatti and Balaraj "Tony" Singh have been selling Lottery tickets since 1988, and together with DSR (1) (Data Set Ready) An RS-232 signal sent from the modem to the computer or terminal indicating that it is able to accept data. Contrast with DTR. (2) (Dynamic Source R Owen Van Skike have made it the success it is today. Despite their incredible success, Mr. Bhatti and Mr. Singh never forget to support their local Little League organization. ABC Liquor has seen its share of ticket sales recently with the current $82 million SuperLotto Plus jackpot. It's no wonder, seeing as a retailer who sells the winning ticket would receive 1/2 of 1% of the jackpot as a bonus for selling the winning ticket. A single winning ticket would yield $410,000 for the retailer. A single jackpot winner of $82 million would receive 26 annual payments with the first payment equaling $2 million and the 26th payment being more than $4 million (before federal withholding Withholding Any tax that is taken directly out of an individual's wages or other income before he or she receives the funds. Notes: In other words, these funds are "withheld" from your wages. ). The estimated cash value would equal roughly half of the jackpot, $41 million or the amount the lottery would invest to payout pay·out n. 1. The act or an instance of paying out. 2. A percentage of corporate earnings that is paid as dividends to shareholders. the jackpot prize over 26 years. In the event of the death of a winner, the full prize is paid to the estate of the winner. The California Lottery sells its products through a network of more than 19,000 outlets statewide. The Lottery provides 52.7 percent of its revenues to players as prizes, 34.1 percent to public schools and 13.2 percent for administrative expenses, which includes 6.9 percent for retailer commissions. Since 1985, the Lottery has raised more than $14 billion for public schools. The Lottery's contribution equals approximately 2 percent of the state's total education budget. |
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