Archive for July 17th, 2007
Push to expand gambling hits snag
Written by admin on July 17, 2007 – 5:51 am -
Legislative talks have fizzled, Madigan says
By Ray Long
Tribune staff reporter
Published July 17, 2007 SPRINGFIELD — House Speaker Michael Madigan said Monday that no gambling expansion will emerge from the General Assembly because of a disagreement over how the money should be used, a setback to lawmakers hoping gambling money would help resolve the budget impasse.
With the legislature in its seventh week of overtime, the Southwest Side Democrat’s prediction came after a meeting on gambling with other legislative leaders and officials representing Gov. Rod Blagojevich.
“Based on this meeting, there’s a lack of an agreement,” Madigan said. “That means there won’t be a gaming bill.”
The speaker has co-sponsored legislation with House Minority Leader Tom Cross (R-Oswego) to expand the number of gambling positions on current riverboat casinos and use the new proceeds for a capital program for schools, roads and other projects.
“If you’re interested in passing a gaming bill, it’s going to be a coalition of Democrats and some Republicans,” Madigan said. “It will not be all Democrats. And so Cross and I have worked on a gaming bill for capital, came to a position, set that position out. There’s a lack of agreement with the Senate and the governor’s office.”
Senate President Emil Jones (D-Chicago) said more gambling could provide money for capital and education operations. He wants a casino in Chicago and more boats elsewhere.
The gambling meeting ended abruptly when Madigan, Cross and Senate Minority Leader Frank Watson (R-Greenville) made it clear that gambling revenues should be used only for capital projects, prompting Jones to say the meeting should be shut down if that restriction is put on the money, said Rep. Robert Molaro (D-Chicago).
“Then Mike said, ‘Well, then let’s shut it down,’ and we got up and left,” Molaro said.
A governor’s aide said Madigan had been open to using gambling proceeds for school operations, but Madigan’s spokesman strongly disagreed.
Madigan has pressed for a budget adding $105 million a year to Chicago schools.
The governor’s office said it wants more gambling talks.
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Macau says gambling revenue in 2Q jumps 50 percent on year
Written by admin on July 17, 2007 – 5:49 am -
Hong Kong: Macau’s gambling revenue in the second quarter jumped 50 percent to 19.57 billion patacas (US$2.45 billion; €1.8 billion) from the year-earlier period, according to figures available Monday.
In the first half of the year, the enclave’s gambling revenue rose 47.5 percent to 37.97 billion (US$4.7 billion; €3.4 billion) patacas from 25.75 billion patacas in the same period last year, the Gaming Inspection and Coordination Bureau said.
The casino regulator released the figures on its Web site Monday but did not elaborate on them.
Analysts had earlier said they expected new casinos and a rise in the number of tourists from mainland China to [TAG]Macau[/TAG] would boost the enclave’s casino gambling revenue.
The former Portuguese enclave has boomed in recent years as some of the Las Vegas gambling industry’s biggest names — Las Vegas Sands Corp., [tag]MGM Mirage[/tag] Inc. and Wynn Resorts Ltd. — began building huge casino and resort projects in the city on China’s southeastern coast.
The casinos hope to tap into a huge demand for gambling among mainland [tag]Chinese tourists[/tag] who flock to Macau, the only place in China where casino gambling is legal. The territory returned to Chinese rule in 1999.
Tiny Macau — a peninsula and two islands — is located about 60 kilometers (35 miles) west of Hong Kong.
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