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Indiana Senate approves lottery sell-offNews Story
Administration officials worked the back of the Senate chamber Tuesday and managed to secure just enough support to pass Gov. Mitch Daniels' plan to privatize the Hoosier Lottery. The 27-20 vote comes from a GOP-controlled chamber that is far friendlier to the governor's plans than the Democratic-held House, where Senate Bill 577 heads next. The legislation authorizes the state to enter into a contract with a private operator to run the lottery for the next 30 years. In exchange, the st
Feb 28, 2007, 9:06 am - Lottery News

Indiana Lottery privitization takes big step forwardNews Story
Indiana Gov. Mitch Daniels' plan to privatize the state lottery took a major step forward Tuesday when a key Senate fiscal panel narrowly approved the proposal. The 7-5 vote came after educators and business leaders lined up to support leasing the Hoosier Lottery to a private operator in exchange for $1 billion toward a life sciences initiative and scholarships meant to keep smart Hoosier kids in Indiana. One Republican joined the four Democrats on the committee to vote against the measure
Feb 21, 2007, 8:35 am - Lottery News

Indiana Lottery sell-off advances in state SenateNews Story
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
Feb 21, 2007, 8:11 am - Lottery News

Will Maryland sell off its lottery?News Story
With a huge cash crunch on the horizon and soaring demands for school construction, new roads and mass transit, some Maryland lawmakers are talking up the idea of selling one of the state's most valuable assets: the lottery. The idea has grown popular since the governor of Illinois proposed doing the same thing last year. The governors of Indiana and Texas have suggested similar moves, and discussions of the idea are taking place in Michigan and New Jersey. Maryland faces a gap of $1.3 bil
Feb 15, 2007, 12:15 pm - Lottery News

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 - Lottery News

Nationwide, lotteries pay for far more than educationNews Story
Martha Keller is a 78-year-old resident of Altoona, Pa., who frequently takes the bus from her apartment on Walnut Avenue to her doctor's office or the local senior center. Chandni Amin is a 19-year-old nursing student at Georgia State University in Atlanta. Keller and Amin have little in common save for one thing both are benefiting directly from money raised by state lotteries. Lotteries help pay for everything from education to economic development, buses to baseball stadiums. In Penn
Jan 31, 2007, 12:06 am - Lottery News

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 - Lottery News

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 - Lottery News

Illinois Is Putting Lottery on Block for Quick PayoffNews Story
The state of Illinois yesterday took the first steps in selling its state lottery system, hoping to attract as much as $10 billion from investors who, in return, would own a monopoly that could turn out to be the biggest jackpot yet. The sale, which may occur as early as the spring, would not be the first privatization of public property - both Chicago and Indiana have recently earned billions of dollars by signing long-term leases with private companies to run toll roads. But the proposed l
Jan 23, 2007, 8:11 am - Lottery News

Bill to outsource Indiana Lottery bans keno, video pokerNews Story
Many upset over Governor's plan to 'sell the Lottery' A bill that would allow Gov. Mitch Daniels to outsource the Hoosier Lottery would prohibit a private operator from offering keno, video lottery games, pari-mutuel wagering on horses or dogs and games based on winners of races or other sporting events. Sen. James Merritt, R-Indianapolis, filed the bill Thursday on behalf of the administration but said he was allowed to put his own principles in it and was not in favor of such gambling ex
Jan 19, 2007, 12:00 pm - Lottery News