Arkansas May Reconsider Casinos
As reported by the Baxter Bulletin: "Arkansans don't mind betting on fast
horses. They don't seem to have a problem making wagers on fast dogs. When
it comes to casinos, however, they draw the line. "Arkansas voters
repeatedly have drawn the line on attempts to legalize casino gambling, most
recently in 2000. This November, if proponents get the necessary 80,570
signatures on their petition, voters may get to have their say again, this
time on a proposal similar to the one that went down in flames six years
"Unlike the Legislature's proposed amendment to legalize bingo and raffles
for established charitable organizations, the casino measure is being put
forth by the private, for-profit Arkansas Casinos and Resorts Inc., a
Texas-based company headed by Michael J. Wasserman of Gainsville, Texas.
".In addition to casinos, the proposed amendment would establish a state
lottery and a gaming commission. The proposal would earmark 50 percent of
lottery revenue for prizes, 45 percent for an educational trust find and 5
percent for operating expenses.
".Mr. Wasserman's proposal also would make gross gambling revenue from
casinos subject to state and local sales taxes. However, the amendment would
exempt the casinos from personal and property taxes, where local governments
get most of their funding."