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Whole Lotto Fakin' Going On: Guv's Plan Long On Push, Short On Details

Hoosierlottery_6 The Star looks at the Guv's proposal to lease the Hoosier Lottery. Thankfully, it looks like someone gave Lottery Director Kathyrn Densborn the revised talking points, so she didn't bust out with the "bingos and raffles" stuff again. Overall, selling off this state agency comes down to weighing instant profit against what a private company will do to make enough money to cover its investment.

We've had this discussion before, but feel free to have at it again.

Despite all the doubts that remain about this plan, all that's left for the Guv to do is rip open the envelope and reveal a totally amazing deal for Indiana! Cuz we've never seen him use that trick before.

Comments

If the state can't make money off of it and the private sector can in exchange for an upfront payment that is more than the state makes, why do we care again? And don't tell me it's about poor state employees who have better jobs than I do at IBM and Cintra.

The state makes about $200 Million a year off the lottery, so the whole comment above is debunked.

It doesn't take a math genius to figure out that this deal sucks. Say you earn $200 dollars a year from your investment. I'm willing to give you a thousand dollars upfront and the your same $200 a year for THIRTY years. You're only getting an extra $200 for 5 years. Then your going to get the SAME income for TWENTY-FIVE years.

No inflation, no extra interest, no nothing. Just your same 200 dollars. Meanwhile, I'm getting all the extra income that I can generate. At the very least, there should be some sort of clause to compensate for inflation. What the hell, the wee one has to be a financial idiot not to see that this is a BAD DEAL.

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