The Massachusetts State Lottery was established in 1971 to raise revenue for the state's cities and towns. The lottery is overseen by the state's Treasurer.Official Site: Massachusetts State Lottery In March 2009, the current treasurer Tim Cahill proposed a privatization of the lottery to raise more money for the state.MassLive.com: Massachusetts treasurer proposes privatizing state lottery (March 4, 2009)
Proposed Privatization
In March 2009, State Treasurer Tim Cahill proposed a privatization of the lottery through a 50-year license to run the lottery. Cahill said that privatizing the lottery would help the state to quickly raise money through money for the license and a revenue-sharing agreement. The state faces a $1.1 billion budget deficit and projected spending cuts of $3.5 billion for the 2010 budget. Although the lottery sold a record-breaking number of tickets in 2008, Cahill is predicting a falling revenue in 2009 due to the the national financial crisis.MassLive.com: Massachusetts treasurer proposes privatizing state lottery (March 4, 2009)
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Fast Facts
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Fact:
Established in 1971 to raise revenue for the state's cities and towns
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First lottery tickets were sold in 1972
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Overseen by state's Treasurer, who is the chairperson of the lottery
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A five-person committee which includes the treasurer and four other members oversees the lottery
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Director
Mark J. Cavanagh
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Headquarters
Braintree
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Regional offices in Fairhaven, Springfield, Worcester and Woburn
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Has returned over $15.3 billion to the state
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Sales in 2008
$4.7 billion, a record number
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$935 million were distributed to cities and towns of the state in 2008Official Site: Massachusetts State Lottery
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351 cities and towns receive local aid through the lotteryOfficial Site: Massachusetts State Lottery
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The money is not earmarked and the communities can choose how to spend itOfficial Site: Massachusetts State Lottery
