Analyst projects lower payoff from leasing lottery than state
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SACRAMENTO — The state is not likely to get a $37-billion up-front payment if it enters a long-term lease of the state lottery to private investors, a legislative analyst said Tuesday, adding that such an arrangement would probably provide less than half that amount.
Jason Dickerson, a gambling policy analyst for the state Senate, told a legislative committee that it should not rely on the $37-billion projection offered by Gov. Arnold Schwarzenegger’s administration last year.
“That is highly unlikely and unrealistic,” Dickerson told the Senate’s Local Government Committee, which is considering loosening restrictions on the lottery to make it more marketable to the public and a potential private investor.
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