|Posted: December 11, 2006, 3:26 am - IP Logged|
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, and paid out about $662 million in prizes. Its lotteries have helped to pay for the Opera House and the Harbour Bridge.