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Quinn Defends Lotto Privatization
Gov. Pat Quinn says hiring a private manager for the lottery is better that selling it outright.

It was Gov. Rod Blagojevich who first entertained selling the lottery -- getting an up-front payment of perhaps $12 billion in exchange for lottery proceeds for 10 years or more. Quinn says that was hyperbole, this is prudence. "I think this is the prudent course to take," Quinn said. "The Legislature studied this, had hearings about it, they enacted the statute and I signed it into law. I think it's better to do it in a prudent way rather than in an exaggerated, hyperbolic way, and that's what we’re doing."

Under this deal, the state keeps lottery proceeds, which the private manager promises to drive up. If the manager meets projections, it will get $331 million in fees over five years, but the state will get $1.1 billion in new revenue.

That money will come from Illinois citizens, just as tax revenue does, but Quinn says this form of revenue is not a burden on the public, in that participation is voluntary. He says the lottery has been part of the "framework of Illinois" since it was instituted in 1974.

The new manager will boost sales and profits by creating new lottery games and by reaching out to people who don't play, or who used to play but don’t anymore.

(Illinois Radio Network)
09 18 10 by Newsroom
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