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toddiem > Intel > Mass. Treasurer Proposes Privatizing State Lottery

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Mass. Treasurer Proposes Privatizing State Lottery

By Todd Schafer

The Massachusetts Treasurer Timothy Cahill proposes to issue licenses to slot machine parlors and even state lottery.
Timothy Cahill says selling a 50-year license can generate up to $1 billion outrightly and another $900 million every year.

Cahill told the Greater Boston Chamber of Commerce he would use the money - and several billion more generateed from licensing and taxing the slot machines in replenishing the state's contingent fund.

Cahill is the states Treasurer and so he oversees the lottery. He says its revenues would fall 3% to 8% annually if gambling was expanded in Massachusetts.

Contributed by toddiem on March 11, 2009, at 3:47 PM UTC.

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This intel was contributed by toddiem


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