The ongoing saga of the privatization of the Pennsylvania Lottery is continuing. The Governor of the State has signed off on the privatization of the Lottery to the group that runs the UK National Lottery and EuroMillions in the UK.
Governor Tom Corbett according to reports is confident that the move will benefit the Lottery and senior citizens in the state by improving on sales. That essentially means that more money will be available for services which includes services for Senior Citizens.
The company in question is Camelot who are operators of state lotteries world-wide. The objectors seem to be objecting to the privatization on the grounds that Camelot is a foreign company, one objector to the privatization went as far as indicating that Camelot is owned by the Ontario Teachers Pension Fund and as Pennsylvania has a lot of gaming interests the opportunity to manage it should be provided to a local company.
The response to this and other criticisms has been that Camelot have put up a $200 million bond and have pledged to increase the value of the Lottery. If they do not do this, they will give up their bond. The Governor is caught between a rock and a hard place it seems.
He is looking to maximize the earnings of the State Lottery by bringing in acknowledged lottery professionals, by doing this he guarantees services to Senior Citizens. His critics though are complaining that jobs will be lost and that the contract should go to a State Company. What is the man to do?
We think that he should stick to his guns and let the British Lottery company improve sales of the Penn State Lottery. If they do not hit performance targets as their surely must be, then they will forfeit the multi million dollar bond and then a Pennsylvania company can be given the chance.If they do hit their targets then everyone in Pennsylvania is a winner.