Comments (1) | Add a comment
Gaming analyst doubts that Texas will legalize casinos soon
Tools
LAS VEGAS REVIEW-JOURNAL
One gaming analyst isn't putting much stock into Texas legalizing casinos anytime soon.
And that's good news for Las Vegas-based regional casino operator Pinnacle Entertainment.
In a note to investors Tuesday, Morgan Joseph gaming analyst Justin Sebastiano said a handful of bills were introduced in the Texas Legislature that support different forms of casino gambling legalization.
The legislation proposals call for amendments to the state constitution, which require a two-thirds vote from both the House of Representatives and the State Senate. Afterward, a majority vote of Texas citizens is necessary.
Sebastiano doesn't believe any of the bills will survive.
"Despite the efforts of many gaming groups over the past 20 years or so, gaming legislation has never made its way out of the House or the Senate," Sebastiano said. "Texas residents have never voted on the topic. Despite the expected budget shortfall that the state would face in the next two years, we believe that, once again, the push for Texas gaming will likely fail."
Pinnacle Entertainment operates the L'Auberge du Lac Hotel-Casino in Lake Charles, La., which draws the bulk of its business from the Houston market, located about a two-hour drive away.
Pinnacle, which already has three casinos in Louisiana, is building a fourth in Baton Rouge.
Comments
Terms & Conditions
The following comments are provided by readers and are the sole responsiblity of the authors. The Review-Journal does not review comments before publication nor guarantee their accuracy. By publishing a comment here you agree to abide by the comment policy. If you see a comment that violates the policy, please use the Report Abuse button.
Some comments may not display immediately due to an automatic filter. These comments will be reviewed within 24 hours. Please do not submit a comment more than once.
Note: Comments made by reporters and editors of the Las Vegas Review-Journal are presented with a yellow background.
RSS
Twitter
Facebook
"CITIZENS ACTION COMMITTEE" for legalize casinos in Texas, take issue with the article "Gaming analyst doubts that texas will legalize casinos soon" posted March 23,2011.
Texas will have legislation passed to amend the state constitution which require a two-thirds vote from both House of Representative and State Senate. Secondly,Their will be one (multi-Farious) bill covering all aspects of casino gaming. Recommending (1)Full Casino Gambling designated along the texas coastal region only. Extending across624 miles ofResort BeacFront, from Galveston to Brownsville/Padre Is. (2)Legalized Slot-Machines to 14-Dog and Horse tracks currently existing in the state. Commonly referred to as illegal 8-Linersexisting currently in communities across the state. (3)Poker Rooms in major markets such as,Houston,Dallas.Austin and etc. across the state.
How are we going to achieve this agressive goal?
The Citizens Action Comittee is fully behind the SDEC who voted to include one of two Referendums on the April 3rd 2012 primary ballot. "Asking voters, if they would support legalizing casino gambling to fund public education". Our goal is to generate some
1.l4 million plus votes across the state. We are appealing to every Parent and Teachers Association across the state, withthe guarantee that an appointed commission to regulate legalize gambling in the state of texas is their to protect the interest of public education.
All parties candidates will be on notice for the november election.
Nate Wilson,gaming analyst-Galveston