GOP legislators question math in Texas lottery-sale planNews Story
Texas Gov. Rick Perry's proposal to sell off the state lottery to fund cancer research and health insurance was met with skepticism Tuesday from a number of key Republican lawmakers who said the numbers don't add up. I don't know anyone who's supporting it, said Rep. Warren Chisum, R-Pampa, who chairs the powerful House Appropriations Committee. I'd give it only a 10 percent chance of passing. In an e-mail, Sen. Robert Duncan, R-Lubbock, who heads the Senate State Affairs Committee, sa ...
Feb 9, 2007, 8:15 pm - Todd - Lottery News forum

Texas Gov. proposes selling the lotteryNews Story
Texas Gov. Rick Perry said Thursday that his State of the State address on Tuesday would include a plan to fully privatize the Texas Lottery by selling it to private interests. Perry said such a sale would raise substantial funds that could be used for health care and research. Other states, including Illinois and Indiana, are looking into the concept, which allows a state to collect a large lump sum to replace future lottery revenue. The proposal is likely to be controversial because t ...
Feb 2, 2007, 5:46 pm - Todd - Lottery News forum

Michigan latest state to consider selling its lotteryNews Story
'Bad idea' continues its rampage through the USA Michigan has become the latest in a growing list of states to consider selling off its state lottery in a scheme to fix the state's budget problems. The move was being discussed at the Capitol as lawmakers and administrators look for ways to deal with an $800 million budget shortfall this year, and possibly even larger hole in the year ahead. Democrat Gov. Jennifer Granholm is expected to announce plans for dealing with the state's struct ...
Jan 27, 2007, 9:34 am - Todd - Lottery News forum

Despite strong opposition, Indiana moves ahead with selling lotteryNews Story
Indiana is considering a Wall Street investment firm to help it pull together a plan to lease the Hoosier Lottery, despite legislative skepticism that could kill the deal. Gov. Mitch Daniels said Friday the administration is negotiating a contract with Morgan Stanley to test the market. A similar contract with Goldman Sachs Co. to market the Indiana Toll Road last year was worth about $20 million. The Toll Road eventually was leased for 75 years for $3.8 billion, and the state has esti ...
Jan 23, 2007, 10:45 am - Todd - Lottery News forum