Intelligencer Journal/Lancaster New Era
Lottery privatization will benefit Pa. seniors
TO THE EDITORS:
In response to Rep. Mike Sturla's Sunday News op-ed criticizing the administration's efforts to maximize and secure long-term funding for senior programs through a Lottery private management agreement, I offer the following information to correct the public record.
Anticipating great public interest in this initiative from the start nine months ago, we have offered as much transparency as possible throughout this procurement, as evidenced by testimony at multiple public legislative hearings, more than 100 meetings with individual legislators and public updates through press releases and a website dedicated to the initiative.
The contract and its related documents have been online for legislators and residents to review for nearly two months. Further, we have never declined an opportunity to discuss this initiative, which will provide 9.5 percent compounded annual growth over the first five years of the contract and 6.1 percent compounded annual growth over the first 10 years of the contract.
That long-term sustained growth has never before been experienced by the Pennsylvania Lottery and is assured by $200 million in security from Camelot.
The Pennsylvania Lottery is one of the best lotteries in the country, and by combining our tremendous success with one of the best private-sector lottery industry experts in the world, we end up with a win-win opportunity to grow and protect lottery profits for decades to come.
Secretary of Revenue