The State of Illinois will take money anywhere they can get it.
So, taking a page from the Daley administration, the state has hired a consulting to figure out how to privatize the state’s lottery, reports Crain’s Chicago Business.
The state awarded an 18-month $3.95 million contract to the New York based consulting firm Oliver Wyman Group.
"This is the first state lottery making the move to go private," said Jodie Winnett, acting superintendent of the Illinois Lottery. "Bringing in an outside manager is expected to bring the state more money over at least a 10-year contract."
The state awarded an 18-month $3.95 million contract to the New York based consulting firm Oliver Wyman Group.
"This is the first state lottery making the move to go private," said Jodie Winnett, acting superintendent of the Illinois Lottery. "Bringing in an outside manager is expected to bring the state more money over at least a 10-year contract."
In light of the current $12.8 billion budget deficit that Illinois is facing for the next fiscal year, the State is looking to act quickly in picking out potential candidates by the fall.
Many interested companies have contacted the state, and there may be national interest as well as international bidders, Ms. Winnett said.
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A law finalizing the terms for outsourcing lottery management was passed last year
