Casino hope crumbles for Dome owner
As reported by The Observer

United Kingdom - The curse of the Millennium Dome could be about to strike again. The future profitability of the controversial attraction is at risk because the structure is unlikely to be able to house a megacasino.

Last week, the government was forced to climb down under Conservative Party pressure and only allow one megacasino under new gambling legislation which became law last Friday.
The planned casino, which could have 1,250 slot machines, is widely expected to be in Blackpool rather than in the dome in London's Docklands. The building's new owner, the secretive US tycoon Philip Anschutz, wanted a megacasino to lure visitors in on a daily basis. Failure to get it will be a huge setback for him. A spokes woman said: 'Of course we're disappointed at the outcome of this legislation.'

Under a government deal Anschutz pays about £3m a year for the dome, so he is unlikely to lose money. However, without a casino to underpin the events he anticipates staging there, profits will slump. The government's returns will also be compromised because the dome contract is arranged in the form of a profit-sharing public-private partnership.

The dome, empty for years having cost taxpayers close to £1bn, is an embarrassment to Tony Blair, who championed the derided project.

Meanwhile, many overseas operators furious that the government closed the door on supercasinos are convinced that after the election they will be able to revisit their plans.

And gambling industry insiders believe that the Rank Group, the leisure conglomerate, is now being stalked by private equity firms. Employees acknowledge mounting speculation about an offer. Rank is seen as a big winner following the Gambling Act because its Mecca bingo arm is earmarked for surging growth while it is likely to scoop up many of the 16 new casino licences.

Measure to expand gambling at Hoosier tracks dies
As reported by CourierJournal.com

Indiana - Senate Republicans rejected a plan yesterday to put 5,000 gambling machines at the state's two racetracks -- even though the tax revenue they generated would have been used to increase funding for public schools.

Minority Democrats offered the proposal -- which could have raised about $180 million annually for the state -- as an amendment to the two-year budget bill, which is now eligible for passage in the Senate.

The amendment failed 16-33, largely along party lines.
Sen. Tim Lanane, D-Anderson, told senators the General Assembly needs to get the gambling proposal "on the table" so it can be considered in the last three weeks of the session, when lawmakers must finish the budget.

"If anyone should make money off of these machines it should be the children by way of education funding," Lanane said.

Democrats say the Senate budget plan -- written by Republicans -- does not provide enough funding for schools. It would raise total funding by slightly more than 1 percent each year, although the impact on individual districts would vary greatly, with some suffering cuts.

Under the amendment, the Hoosier Lottery Commission would have owned and operated the machines. The state would have kept 60 percent of the proceeds, with the rest split among horsemen and the two tracks -- Hoosier Park in Anderson and Indiana Downs in Shelby County.

But Republicans have been hesitant to expand gambling in a state that already has a lottery, 10 riverboat casinos and pari-mutuel wagering.

Sen. Gary Dillon, R-Pierceton, said the gambling plan "is truly a loser from an economic standpoint."

He said it also creates addicts and hurts families.

"This is not a painless solution," he said.

Senate Tax Committee Chairman Luke Kenley, R-Noblesville, said the proposal shouldn't be approved without being heard in a committee hearing, where the public can testify.

Earlier in the session, a similar proposal -- which would have generated money for the state budget and a new stadium for the Indianapolis Colts -- died in a House committee.

Senate Republicans also rejected amendments yesterday meant to direct other revenue to education funding.