Indiana Lottery sell-off advances in state Senate

Comment #5

Stack47 — Fri, 23 Feb 2007 15:35:23 GMT

For the fisical year ending June 30, 2006, the Hoosier Lottery had record sales of $816 million and a record net income of $218 million.

The state could accept a bid that met a $1 billion minimum as long as the company agreed to continue paying the state $200 million annually, the amount of lottery profits already dedicated to ongoing programs.

Who would pay $1 billion to get a return of only $18 million (based on record sales)?

Isn't that the same as paying $1000 for the use of a l... [ More ]

Comment #4

LOTTOMIKE — Fri, 23 Feb 2007 07:19:34 GMT

losingjeff had better get his share

Comment #3

Drivedabizness — Thu, 22 Feb 2007 22:59:40 GMT

Not to try and oversimplify what would be a very complicated transaction - but here goes...

The States are looking for many years worth of revenue up front and lesser future returns. I'm not sure how smart that is from a policy perspective...to me its like pulling money out of your retirement fund because you want to buy a new car now. That said, very few States actually embrace the Lottery as an agency or have much interest in them performing well. Most Governors just want the Lottery t... [ More ]

Comment #2

CASH Only — Wed, 21 Feb 2007 18:06:43 GMT

I have yet to make up my mind whether state lotteries should be sold, probably because it hasn't happened yet in the US. Connecticut's AFAIK is partly run by the private sector.

Maybe NY should sell its lottery except for its VLTs (Monticello, Yonkers, soon to be Aqueduct, etc). Perhaps there would be an increase in the Blotto payout percentage, and an end to annuity-only scratches.

Comment #1

DetroitJazzMan — Wed, 21 Feb 2007 17:12:51 GMT

looks like the best investment would be to invest in the company that is intent on buying up these state lotteries. IMHO that would be the best bet

Indiana Lottery sell-off advances in state Senate

Lottery Post — Wed, 21 Feb 2007 13:11:35 GMT

Correction: This story originally identified Kentucky as the state selling off its lottery. We apologize for the error.

A Senate committee approved legislation yesterday to privatize the Hoosier Lottery after university officials said they needed the money it would generate to attract top researchers and boost life sciences.

We believe this bill is a difference maker, said Purdue University President Martin Jischke.

Senate Bill 577 passed 7-5 largely along party lines, with Republi... [ More ]