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Posted At : January 23, 2008 05:45 PM | Posted By : D McKee
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Politics
$708,000: That's how much tax revenue Gov. Bill Richardson (D-N.M.) is willing to sacrifice so that one of his major campaign donors can get a break, according to The Albuquerque Tribune.
The potential beneficiary is Ruidoso Downs. The racino and its owners have funneled over $500,000 into Richardson's campaign coffers since 2006. They would also be the only beneficiaries of the tiered tax system that Richardson is proposing for New Mexico's casinos. Funny how those things work out.
Put it on his charge card. Over in the Bay State, Gov. Deval Patrick (D-Mass.) has put out a budget that's predicated on the state receiving licensing fees, to the tune of $124 million, from prospective casinos. One small problem: The Massachusetts Lege hasn't approved one measly casino. Patrick freely admits he's trying to put the hammer down on lawmakers by building his budget around money that isn't there ... yet. It should be interesting to see how this brinkmanship plays out.
Spitzer stalling. Let's not forget the Empire State, where there's a crisis in the horseracing industry. (Personally, I think economic evolution has "selected out" the Sport of Kings, but read on.)
"Horses are leaving, New York Racing Association is bankrupt and operating with a temporary agreement, and Governor Eliot Spitzer [D-N.Y.] will not discuss the still unresolved franchise situation," relates Thoroughbred Times. What's more, New York City's OTB network is on the brink of collapse. While NYC Mayor Michael Bloomberg is cognizant of the situation, Spitzer seems bent on ignoring it, according to the Times. The Vernon Downs racino, which has long been underwritten by the money of Vegas retirees and investors, is among the tracks that are sucking wind. Simply put, the racino experiment in New York State looks like it's headed for catastrophe.
Survey says ... "Liar, liar, pants on fire!" Or something to that effect.
Pit boss tells all: And it turns out to be pretty tame stuff.
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