Lotteries sell-off to pay for water fix

Reply #3

Todd — Tue, 12 Dec 2006 12:16:18 GMT

https://www.lotterypost.com/news/146576.htm

Reply #2

truecritic — Tue, 12 Dec 2006 07:34:16 GMT

I take it that's a UK billion not a US billion?

Actually AU uses $1.00 of its own.

$1AU = 0.784098 USD

Reply #1

BobP — Tue, 12 Dec 2006 07:19:26 GMT

Sounds like they should be asking a lot more, they could borrow the money and pay it off in a couple of years from lottery profits. The public does not want private companies running lotteries, they have always proven to be crooked in the past, but I suppose that could never happen again, giggle.

I take it that's a UK billion not a US billion?

BobP

Lotteries sell-off to pay for water fix

goldrush — Mon, 11 Dec 2006 08:26:48 GMT

A STATE Coalition government would sell NSW Lotteries to help fund its $1 billion water strategy but would preserve payout levels to winners of Lotto, Powerball and instant scratchies.

The Opposition Leader, Peter Debnam, will announce today a plan to sell the company, possibly by a public float, if the Coalition wins the election in March. The sale could raise as much as $800 million.

NSW Lotteries has sold lottery tickets since 1931. Last year it sold tickets worth more than $1.1 billion... [ More ]