Media Advisory: State Highlights Increased Revenue from Spirits Contract

September 21, 2015

For Immediate Release: Monday, September 21, 2015
Contact: Adrienne Bennett, Press Secretary, 207-287-2531

Media Advisory: State Highlights Increased Revenue from Spirits Contract

AUGUSTA – Governor Paul R. LePage will join officials from The Maine Bureau of Alcoholic Beverages and Lottery Operations and agency retailers Tuesday afternoon to highlight the increased revenue from the new wholesale liquor contract in Maine, which has exceeded its first-year projections.

Gross spirit sales in fiscal year 2015 increased to $155.5 million, which returned $46 million to Maine taxpayers. Fiscal year 2015 sales were nearly 4.6 percent ahead of fiscal year 2014 sales totals. This marks a significant accomplishment for the first year of Maine Spirits – the wholesale business trade marketing partnership between the State of Maine and Pine State Trading Co.

The robust sales performance is positive news for the State, which pledged the revenue stream of the spirits business as collateral for a revenue bond. The revenue bond, a major part of Governor Paul R. LePage’s plan for a new wholesale liquor contract, was used to fully repay $490 million in outstanding debt to Maine hospitals that was accrued as a result of the expansion of MaineCare under Democratic leadership.

On Tuesday, the Governor, Commissioner of the Department of Administrative and Financial Services, officials from Maine Bureau of Alcoholic Beverages and Lottery and Pine State Trading Co. will join to explain how increased sales are helping spirit retailers strengthen Maine’s economy.

When: Tuesday, September 22, 2:30 p.m.

Where: Pine State Trading Co., 8 Ellis Avenue, Augusta (Next to Dairy Queen)