States Looking To Private Investors To Run Lotteries
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States are seeing the potential for more revenue dollars in their state lotteries. More and more individual states are looking to private investors to run their lottery.
Lotteries are a way for state governments to raise money through legalized gambling. The hypocrisy that exists in this form of gambling can be seen in almost every state.
Politicians claim that they are against gambling, then turn around and support state lotteries. The lottery is the biggest legalized form of gambling.
Now, state officials are starting to find the advantage to leasing out their lotteries to individual private investors. The investors would have to pay a fee up front to win the rights to run the lottery.
In Vermont, the idea has been talked about heavily and is under serious consideration. Investment bank Lehman Bros. has put together a proposal for Governor Jim Douglas that includes an up front payment of $56 million, plus annual payments.
Other states have followed the ideas of Vermont and are currently looking into the options of leasing out to private groups. The guess is that once a couple of states implements the plan, others will then follow the lead.
Chile Getting Gambling Complex Thanks To Clairvest Investment
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Chile is next in the line of countries that are receiving facelifts for their casino industry. A new casino gambling complex is being built thanks to an investment from a canadian casino operator.
Clairvest Group Inc. is one of the biggest casino operators in Canada. They are investing in the fact that if they can be successful in Canada, they can do it elsewhere as well.
The Group, partnered with Clairvest Equity Partners III Limited Partnership, is investing in a gambling complex that will be located in southern Chile.
Clairvest Equity is putting up seventy five percent of the investment. Clairvest Group is ivesting twenty five percent. Together, they will own fifty percent of the complex. The total investment from the two groups will be $41.6 million.
Their partner in the project will be a Chilean Real Estate Company, Empresas Valmar. The name of the resort will be Casino Marina del Sol.
“The facility will benefit from a large population base, a diversified and strong economy and a monopoly for gaming in the region that was written into the license granted by the casino regulator in Chile,” said co-CEO of Clairvest, Jeff Parr.