Pols to profit from casinos? No dice, says Gov. Cuomo
Exclusive: Language in budget proposal would forbid lawmakers from having hand in gaming companies
By Glenn Blain / NEW YORK DAILY NEWS
ALBANY — There is one group that definitely won’t be cashing in on Gov. Cuomo’s push to legalize casino gambling in New York — politicians.
Tucked inside the 2012-13 budget proposal Cuomo released last week is language forbidding lawmakers from having a hand in the till in an industry the governor wants to better regulate.
Elected officials, government employees and political party types would be barred from owning any stake, including stock, in licensed gaming companies.
Politicos would also be blocked from having more than a 10% stake in any business that sells goods or services to a gambling enterprise.
“Given the many recent scandals involving public officials, it’s great the governor is telling our public officials and party leaders to keep their hands off,” said Dick Dadey, executive director of the watchdog group Citizens Union.
The prohibitions are part of legislation included in Cuomo’s budget proposal. The bill would merge the state Lottery Division with the Racing and Wagering Board to create a new state gaming commission. If the measure is approved, the commission would control licensing of gaming companies — and woe to the politico who gets caught in a deal.
Cuomo said the move is needed to both modernize and streamline the regulation of gaming in the state, telling the Daily News Editorial Board last week that the state’s approach to the industry is “ugly, sloppy and ineffective.”
A Cuomo spokesman said that similar safeguards now apply to the racing industry.
The regulatory move could help the governor as he drives for a constitutional amendment to legalize casino gambling.
The need for greater oversight was highlighted in 2010 when the Aqueduct Entertainment Group’s bid to run a racino at Aqueduct Racetrack in Queens fell apart because of behind-the-scenes influence from lawmakers.
gblain@nydailynews.com
ALBANY — There is one group that definitely won’t be cashing in on Gov. Cuomo’s push to legalize casino gambling in New York — politicians.
Tucked inside the 2012-13 budget proposal Cuomo released last week is language forbidding lawmakers from having a hand in the till in an industry the governor wants to better regulate.
Elected officials, government employees and political party types would be barred from owning any stake, including stock, in licensed gaming companies.
[Not so in Massachusetts where Secretary Bialecki and Senator Stanley Rosenberg profited from Gambling Stocks at the same time they were cheerleading for EXPANDED GAMBLING.]
Politicos would also be blocked from having more than a 10% stake in any business that sells goods or services to a gambling enterprise.
“Given the many recent scandals involving public officials, it’s great the governor is telling our public officials and party leaders to keep their hands off,” said Dick Dadey, executive director of the watchdog group Citizens Union.
The prohibitions are part of legislation included in Cuomo’s budget proposal. The bill would merge the state Lottery Division with the Racing and Wagering Board to create a new state gaming commission. If the measure is approved, the commission would control licensing of gaming companies — and woe to the politico who gets caught in a deal.
Cuomo said the move is needed to both modernize and streamline the regulation of gaming in the state, telling the Daily News Editorial Board last week that the state’s approach to the industry is “ugly, sloppy and ineffective.”
A Cuomo spokesman said that similar safeguards now apply to the racing industry.
Read more: http://www.nydailynews.com/new-york/pols-profit-casinos-dice-gov-cuomo-article-1.1010142#ixzz1kHmUneLd
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