The Pennsylvania Lottery had record sales last fiscal year, but the Corbett administration still is moving forward with plans to privatize its operations.
The lottery yielded record-high net profits of more than $1 billion.
The figure actually represents modest growth of about 0.06 percent, according to Revenue Department Secretary Dan Meuser.
He says the big lure of privatization is that the contract would guarantee 9 percent revenue growth every year.
“Whether or not there was a recession, whether or not there were economic issues. That’s what the (private management agreement) would bring — a guaranteed level of funding levels,” Meuser said.
Meuser’s agency is still working on a plan to lease the lottery’s operations to the British firm Camelot Global Services.A bid with the company has been extended to the end of the month, after a previous deal was rejected by the state attorney general.
All profits from the Lottery go into programs benefiting seniors in the commonwealth — including a property tax and rent rebate program and prescription drug assistance.