AUGUSTA, Maine (AP) - Maine has awarded a new 10-year contract for liquor administration and distribution in the state.
The Bureau of Alcohol Beverages and Lottery Operations said Thursday the new contract with Pine State Trading Company of Augusta will bring in $450 million to the state over the next 10 years.
Maine sought a new contract with the hopes of getting a better deal than the current agreement Maine Beverage Company. LePage says that contract is costing Maine millions in lost revenue.
The bureau says the new contract will bring in more money, thanks to a lower-cost wholesale distribution deal and by not raising the price of spirits.
The revenue will cover the cost of a bond that was sold to pay back the state's hospitals a $490 million debt.
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