Rick Perry weighs odds on selling lottery (Texas)

'Austin American Statesman ^ | Laylan Copelin, Ken Herman

[Cat loving Texan]

So which foreign company does he have in mind? We need to just legalize casino gambling, have the state take a cut and be done with it. Probably should have the same arrangement if they decide to sell the lottery. A one time payment will only bring in cash short term and the state is likely to spend every dime.

[Dudoight]

Very well said!

aside:
(I am a Texan and have the most wonderful cat in Texas. His name is Moses. All my kids and grandkids would love to take him home. Some cats are really fantastic! Moses is one of them.)

[100-Fold_Return]

Free enterprise is what this nation and tejas was built upon. Though my family is born again, we have no theological concerns with tejas becoming the casino capital of the world.

Rick Perry seems to have the moxie to remove future-president Clinton from her future throne!

[Dog Gone]

It's not as if the state doesn't spend every dime from it now.

However, I'd value it at more than ten times annual profit to the state.

That is pretty good rule of thumb for valuing the cash flow from an oil and gas royalty interest, but that's generally a declining asset. The Lottery will continue to increase its profits, and one can only imagine what it will be spinning off 50 years from now.

[traviskicks]

bookmakr

[bondjamesbond]

She must have even more golden eggs inside!

[biff]

This smacks of deja vu with states that sold tobacco bonds so they could spend, spend, spend and now that money is gone, gone, gone.

Is there anything Gov. Slickhair will not sell? How bout the Alamo? Stathouse? Aw hell, why not just privatize all state governmental operations including the governors job?

[DalcoTX]

Anyone who has ever played Monopoly knows the correct strategy is to buy all the property you can. You should even mortgage your other properties if you need the cash to buy new ones. Unless you have streams of income, your purse will eventually be empty.

Saying that, I don't like Perry selling off rural highway maintenance, TTC toll booths, and now the lottery.

[TexanByBirth]

Is there anything Gov. Slickhair will not sell?

Nope! Rick Perry would sell his mother and then try to pass it off as "good for Texas"!

[billbears]

Why not? Is there a reason a government entity owns land in the name of 'heritage'? Sell off the Alamo to the highest bidder. Make it a part of the contract that they have to maintain upkeep, open to the public, etc.

[nomorelurker]

Alamo is privately owned already. Daughters of the Republic of Texas.

[billbears]

Thank you. The poster I was responding to was apparently under the assumption it was owned by Texas. Owned by the Daughters of the Republic of Texas is how it should be

[nomorelurker]

I could be wrong but if the State puts the lottery in private hands my understanding of the law is that an Indian tribe would then have the right to run it's own competing lottery. As I understand it whatever the state allows a private business to do as for as gambling it can't prohibit an Indian Tribe from doing the same. If the State were to allow full blown casinos then Tribes can do the same so I presume the same rule would apply to a lottery

[biff]

Y'all forgot about emminent domain and ole Ricky ain't afraid to use it. Take over the Alamo and then sell it to a developer!!!! Hell of a moneymaker.

[nomorelurker]

Strange you should mention that. This is the first session of the Texas legislature in some years where I've not heard of someone proposing just that. It's early so give them time I guess. They usually present it in terms of "something so important to the state should not be in private hands".

[YCTHouston]

Your thoughts? Looks like he can't deliver on gambling, so he's gonna try to give 'em the lottery instead.

Between this and requiring STD vaccinations for Texas women, our guv sure is busy.

[Froufrou]

"Indiana is expecting to raise more than $1 billion up front and annual payments of $200 million, according to The New York Times."

In the NYT? Must be a joke.

[GulfBreeze]

What a joke. We should have supported Kinky... not yet...

I'm getting close.

[wolfcreek]

The State of Texas: formerly owned by the people of Texas Sold by Rick Perry to foreign investors or anyone else with a cash money.


Six out of ten Texans can't be wrong.

[PAR35]

The state should sell the lottery, and then ban all gambling.