Kip Averitt (TX State Senator District 22) All For Privatizing the State LotterySomervell County Salon-Glen Rose, Rainbow, Nemo, Glass....Texas


Kip Averitt (TX State Senator District 22) All For Privatizing the State Lottery

31 August 2008 at 1:16:27 PM

Remember that Rick Perry, whose son WORKS for a company that stands to beneft from this, has been all for this.  And Perry has used school funds to try to push video gambling. Back to Averitt

Although several prominent investment advisers urged senators to explore turning the lottery over to a private contractor, Sen. Kip Averitt, R-Waco, cautioned that the state first should determine the value of its lottery before it looks at potential solutions to boost returns to the state.

"To make a good decision, we first need to know what we're talking about," he said.

Mr. Averitt and other senators expressed interest in hiring a consultant to work with Texas Lottery Commission officials in determining a monetary value for the lottery.

Gov. Rick Perry last year set the future value of the lottery at about $14 billion and urged the Legislature to sell it to a private vendor in order to create trust funds for public education, a cancer initiative and health insurance for the poor. But his proposal — offered at the start of the 2007 legislative session — went nowhere.

Critics said the governor's plan was based on overly optimistic assumptions about what the state could earn from the move.

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