Hoosier gambling on the private company to boost revenue
INDIANAPOLIS, Ind. -- The Hoosier Lotto is considering a gamble of its own. The lottery commission is deciding whether to distribute its marking and ticketing business to a private company.
A deal would privatize operations and could help the state lottery bring in 40 to 60 percent more money without expanding gaming.
The lottery has asked the two companies it is considering to show how they would produce a 20 percent improvement.
"If we could achieve in the 20 percent range of improvement, that'd be a really good deal for the state. It'd be very difficult in short periods of time for us to achieve the same kind of thing."
The lottery expects to post a $225 million profit this fiscal year.
That is up five percent from last year.
If that pace continues, the lottery would earn $3.5 billion over the proposed life of an outsourcing deal.
Officials are expected to make a decision by next week.