Casino
measure said to be close
As
Reported by Herald-Leader
FRANKFORT,
Kentucky - Lawmakers say they're close to a compromise
bill regarding the approval of casinos in Kentucky but
need a week before it will be ready for its first test
in a House committee.
Sen.
David Boswell, an Owensboro Democrat, said the version
of a constitutional amendment in the works would allow
for casino gaming at Kentucky's eight racetracks and at
least three other sites.
Boswell
said he is still pushing for four free-standing casinos
-- in Owensboro, near Hopkinsville, along I-75 in southeastern
Kentucky and another border county, perhaps close to Ashland.
He
added, however, that time is running out.
"If
it's not done by next week, I think we've got some problems
with it," he said.
The
period to pass bills ends March 23.
In
addition to the time crunch, proponents say rounding up
enough votes in the House won't be easy.
Rep.
Denver Butler, a Louisville Democrat who chairs the House
Licensing and Occupations Committee, said he's confident
that a compromise bill would get enough votes to move
to the House floor.
But
several House Democratic leaders already are dreading
its arrival, he added.
"Some
of them are nervous," he said, although he declined
to give names.
That's
largely because the political stakes are rising.
The
Kentucky Equine Education Project, a horse industry group
spearheaded by former Democratic Gov. Brereton Jones,
has launched a public campaign to expand gambling at racetracks.
KEEP's
members also have proved to have deep pockets that they're
willing to dip into for candidates who support their cause.
House Democrats could risk losing that if the bill is
left to die, Jones said recently.
It
also could be difficult to round up the necessary 60 votes
to pass the constitutional amendment -- especially in
an election year.
Some
lawmakers who approve it could be hammered by challengers
in the fall, especially with many religious organizations
opposing the expansion of gaming.
But
Boswell said it would be hard for some members to oppose
a measure that could provide the state coffers with needed
funds.
Even
if the measure does clear the House, Republican Senate
leaders have predicted that the bill's chances are slim
in the upper chamber.
Although
KEEP has specifically pushed for a plan to allow expanded
gaming only at racetracks, Boswell said its members have
agreed to adding at least three other sites.
The
Rev. Nancy Jo Kemper, executive director of the Kentucky
Council of Churches, has said the horse industry has "sold
their soul" by being willing to allow casinos elsewhere.
Online
Casino Group BetandWin finalises Ongame acquisition
As
Reported by Online Casino News
AUSTRIA
- Austrian online sports betting operator BetandWin.com
Interactive Entertainment has finalised its 513 million
euro ($611 million) purchase of Swedish online poker site
Ongame e-Solutions.
A
company statement said, 'All conditions precedent to the
acquisition, including approval by the supervisory and
management boards of BetandWin, have been satisfied.'
BetandWin
is fighting for market share in the booming online gambling
market and has agreed to pay 5.37 times Ongame's 2005
gross gaming revenues less customer bonuses. It will pay
60 percent in two cash instalments and 40 percent in stock.
BetandWin
raised 269 million euros by selling new shares to fund
the first cash installment and has issued a further 3.1
million new shares to pay for the share part of the price.
The
new shares issued for the share part of the deal cannot
be sold for six months and the lockup expires step by
step over the following 18 months.