This is about maximizing the return for California taxpayers…It’s underperforming. – Schwarzenegger spokesman.
By JIM CHRISTIEJ
May 10, 2007 – TheScroogeReport.com Post
SAN FRANCISCO – California Gov. Arnold Schwarzenegger wants to privatize the state lottery in what would be the first such move in the United States, aides said on Thursday.
Nearly all U.S. states have lotteries, a popular source of revenue, but many state officials are reconsidering their value because of the costs of managing them. If California opts to let the private sector take on its lottery system, smaller states could follow.
Schwarzenegger has concluded that California’s lottery system, approved by voters in 1984 to help raise money for public schools, is not living up to its financial potential and that the private sector could do better.