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Hoosier Lottery bid deadline passes

31 January 2007

INDIANA – As reported by the Indianapolis Star: "Monday was the deadline for companies interested in taking control of the Hoosier Lottery to let the state know, but how many stepped up and who they are remained a secret.

"Jane Jankowski, spokeswoman for Gov. Mitch Daniels, said she expects the names of the firms will not be made public. Daniels has proposed leasing the lottery to fund higher education initiatives.

"Both Jankowski and state budget director Charles Schalliol said they did not know how many firms met the state's 5 p.m. Monday deadline to respond to the state's proposal. Schalliol said he expected eight to 10 firms to respond, based on the 'many, many conversations' the state has had with interested companies.

"…Daniels has proposed putting the lottery under private management for 30 years, in exchange for at least $1 billion in cash, plus about $200 million annually.

"The state has hired investment banker Morgan Stanley as its financial adviser to evaluate the firms that respond and determine whether they're credible enough to be given an initial OK…"

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