If it ain’t broke why fix it?
MySA.com: Lump sum or payments? Perry wants to sell lottery
AUSTIN — Gov. Rick Perry is planning to tell the Legislature he wants to “sell” the state lottery to a private company when he delivers his State of the State speech next Tuesday, aides confirmed Friday.But spokesman Robert Black is not elaborating on exactly what Perry means by selling the lottery, leaving unanswered questions about whether a sale would involve a lump sum or annual payment.
The Texas Lottery already is highly privatized. Gtech Corp. runs the Lotto games and Scientific Games the scratch-off games.
You would have to wonder what Rick Perry’s thought process is on this one. Has the Lottery ever lost money? No, even with sales dwindling it still brings in over a billion dollars every year. It might not be the cash cow they expected but a billion dollars is nothing to sneeze at. How incredibly short sighted of him. I am sure Texas could get a good size lump sum for the lottery but that is giving away a nice yearly income stream forever. Why would he choose to give away money? Make no mistake that is what he would be doing if he sells off the lottery to a private company.
Technorati Tags: Lottery, Rick Perry, Texas
Filed under: Rick Perry, lottery, texas
