Is privatizing Pennsylvania Lottery a smart bet? Lawmakers offer mixed opinions
When Gov. Tom Corbett’s administration began weighing plans to privatize the Pennsylvania Lottery last spring, House Democratic Leader Frank Dermody saw no compelling reason to go down that road.
Even after hearing a British company’s promise of $34 billion in profits over the next 20 years to fund senior citizen programs, Dermody’s position still has not changed.
The lottery posted a record profit last year, the Allegheny County lawmaker noted. The lottery recorded nearly $3.5 billion in ticket sales, with administrative costs of just over 2 percent. Nationally, it’s recognized as a top-performer among state lotteries. Read More...