So the Lotto maybe up for sale!

msg11 · 05-09-2011 5:13pm #1

Feels like I am living in a real life game of Monopoly! Can't see the point in selling something that is making money for us. If it was losing money then yup sell away..

Ah sure phek it. Sell it all, or even give it away like our oil.

SELL SELL SELL, TAX TAX TAX !!

http://www.rte.ie/news/2011/0905/state_assets.html

The National Lottery has been included in a list of assets which could be sold by the Government.

Last year the company raised €750m from the sales of lottery tickets and other products.

As State owned companies go - the National Lottery is a successful one - it is not a drain on the Exchequer and it generates plenty of money for good causes.

It employs 100 people and gets €770m from selling tickets and other products.

Last year it gave away €420m in prize money and its costs were €108m. leaving it with €244m to donate to good causes.

Now RTÉ News has learned it has been included in a list of potential assets for sale.

Ministers have not yet been presented with a recommendation as to whether it should be sold and that issue is likely to be some time off.

However, it is being valued to assess how much it could raise as part of a programme on disposal of State assets.

A key issue in any sale would be to determine how much profit could go to any new owner.

This afternoon a spokesman for the Department of Finance declined to comment on the issue.

However, the matter was raised at the Government's Economic Management Council.

That group is made up of Public Expenditure Minister Brendan Howlin, Minister for Finance Michael Noonan, Tánaiste Eamon Gilmore and Taoiseach Enda Kenny.

Selling lotteries is nothing new - Britain's lottery is run by Camelot, which donates 40% of sales to good causes.

Meanwhile, Spain is in the process of selling its company, Loterias, which could raise €7bn for its cash strapped government.

Biggins · 05-09-2011 5:15pm

msg11 wrote: »

Can't see the point in selling something that is making money for us.

Well in practicability terms - how well would any person do in selling something that makes a loss?
Its far easier to sell this than a deep hole of debt - but I understand where your coming from.

Chuck Stone · 05-09-2011 5:16pm

I think they should sell the whole Island and convert it into a theme park.

Irelandland.

sdanseo · 05-09-2011 5:16pm

msg11 wrote: »

So the Lotto is up for sale!

I've heard of paraphrasing, but that's just not. It's not for sale yet.

Biggins · 05-09-2011 5:17pm

Chuck Stone wrote: »

I think they should sell the whole Island and convert it into a theme park.

Jedward-land

I agree!

MrStuffins · 05-09-2011 5:18pm

If they don't raffle it off I won't be happy!

TheZohanS · 05-09-2011 5:19pm

I can imagine the amount of brown envelopes that will be involved with this one....

msg11 · 05-09-2011 5:19pm

sdeire wrote: »

I've heard of paraphrasing, but that's just not. It's not for sale yet.

Ah yes, but this is Ireland. When someone says it could be up for sale. Usually means the government are testing the water, so there is a very good chance it will be up for sale in the next few months.

red menace · 05-09-2011 5:19pm

msg11 wrote: »

Feels like I am living in a real life game of Monopoly! Can't see the point in selling something that is making money for us. If it was losing money then yup sell away..

Ah sure phek it. Sell it all, or even give it away like our oil.

SELL SELL SELL, TAX TAX TAX !!

http://www.rte.ie/news/2011/0905/state_assets.html

The National Lottery has been included in a list of assets which could be sold by the Government.
.

I highlighted the important word for you

MrStuffins · 05-09-2011 5:20pm

TheZohan wrote: »

I can imagine the amount of brown envelopes that will be involved with this one....

Each one containing a scratch card with 3 stars!

mikemac · 05-09-2011 5:20pm

Sell it to a private operator

Then the State sets up a new lottery and runs the National Lottery outta business and gets back to a profitable operation
Sneaky :cool:

Biggins · 05-09-2011 5:20pm

Can I be the first one to say that selling the Lotto is a load of balls?

latenia · 05-09-2011 5:21pm

They should just ban the thing. It's definitely been a factor in the population turning into greedy morons.

mike65 · 05-09-2011 5:21pm

Derek Money will be our Overlord.

PseudoFamous · 05-09-2011 5:23pm

Why would they sell it if it turns a profit? Just reallocate a portion of the profit to servicing our debt, and we're good to go.

Orando Broom · 05-09-2011 5:23pm

RTE

msg11 · 05-09-2011 5:26pm

Orando Broom wrote: »

RTE

I agree, sell it to Sky. Didn't they say they were a bank. Or maybe it was that they were not a bank..

If I had the money, I would buy RTE to turn it off. . .

Phill Ewinn · 05-09-2011 5:26pm

Sell it to the Japanese. We miight get a decent lotto show as a thank you. Topless Jap girls can pick a winner for me

Hannibal · 05-09-2011 5:33pm

there's no government asset that's safe with FG in government, they'll sell everything they can. We'll be left asset stripped and without the family silver

4leto · 05-09-2011 5:36pm

Its a tax on the poor man

Or on the mathematically stupid, I know someone has to win.

If it take the distribution of the fund away from our politicians this maybe a good thing.

Isn't the distribution of the fund in the sphere of the Ceann Comhair (spelling) and didn't John O Donaghue's Kerry's constituency get a disproportionate high amount of the fund.

jimmynokia · 05-09-2011 5:38pm

A man runs home yelling to his wife:
- Pack your bags honey, I just won the €10 million lottery!
Wife:
- Do I pack for the beach or the mountains?
The husband replies:
- Who cares, just pack and get lost!

Bipolar Joe · 05-09-2011 5:41pm

Chuck Stone wrote: »

I think they should sell the whole Island and convert it into a theme park.

Irelandland.

No, just Ireland, as in the land of ire.

mikemac · 05-09-2011 5:42pm

4leto wrote: »

Isn't the distribution of the fund in the sphere of the Ceann Comhair (spelling)

No

4leto wrote: »

didn't John O Donaghue's Kerry's constituency get a disproportionate high amount of the fund.

Minister for Sports, Arts and Tourism
All ministers who held that job shuffled money in their constituencies and pet projects

Michael D Higgins did it
So did Jim McDaid

Wertz · 05-09-2011 5:43pm

As I've posted elsewhere on the site today, this is what happens when the IMF/World Bank move in... they demand the sale/privitisaton of state assets (usually strategic, obviously not in this case) to pay off the bailout money they've lent out.
ESB will be next and whatever else they can hawk to a bunch of vulture capitalists and hedgefunds.

talla10 · 05-09-2011 5:46pm

msg11 wrote: »

I agree, sell it to Sky. Didn't they say they were a bank. Or maybe it was that they were not a bank..

Ok this may sound crazy but...AfterHours Consortium???

I have €1,000 i can dig up....

who else wants in??

4leto · 05-09-2011 5:47pm

mikemac wrote: »

No

Minister for Sports, Arts and Tourism
All ministers who held that job shuffled money in their constituencies and pet projects

Michael D Higgins did it
So did Jim McDaid

Oh right thanks for clearing that up

and O Donaghue once held that brief'

Jesus Wept · 05-09-2011 5:55pm

4leto wrote: »

Its a tax on the poor man

Or on the mathematically stupid,

blah blah blah blah blah

4leto · 05-09-2011 6:04pm

The-Rigger wrote: »

blah blah blah blah blah

Thats just my opinion I have noticed I havn't played it once since I won it:pac:

So the Lotto maybe up for sale!

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