Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Littlefield Corporation (LTFD) -- Ignore unavailable to you. Want to Upgrade?

To: Ed Pettee who wrote (8679)	6/4/1998 10:01:00 AM
From: Nittany Lion	Read Replies (1) \| Respond to of 10368

From today's Myrtle Beach Sun News: Gambling rules die in Senate GOP senators don't want state to rely on funds By Jesse J. Holland THE ASSOCIATED PRESS COLUMBIA - Republican senators shot down attempts to increase regulations on the state's $2 billion video gambling industry, saying South Carolina cannot afford to be further dependent on the 31,000 machines. ÿÿÿÿ This means video gambling probably will not be curbed at all by the General Assembly that once threatened to ban the industry statewide. The session ends today, and it will be difficult to get regulations through amid the last-day rush. ÿÿÿÿ ''If you get into regulating and taxing the industry, and even more gambling money gets into the state's revenue stream, then we'll have video poker in this state forever,'' said Sen. Hugh Leatherman, R-Florence. ÿÿÿÿ The Republican-controlled House and GOP Gov. David Beasley advocated a ban all session, with representatives sending a ban over to the Senate and placing a copy inside the proposed state budget. But the Democrat-majority Senate killed their version of a ban with a three-week filibuster and refused to consider the House bill. ÿÿÿÿ Senate budget negotiators also refused to consider putting the ban in the budget. ÿÿÿÿ Sen. Tom Moore, D-North Augusta, tried Wednesday to revive the House and Senate bills to amend them to allow increased regulations. ''I think it's doing the state a real disservice to go home without trying to get any kind of regulations, any kind of referendum, increased taxes or something on video poker,'' Moore said. ÿÿÿÿ But three Republican senators - Greg Ryberg of Aiken, Greg Gregory of Lancaster and David Thomas of Fountain Inn - blocked the move, Moore said. ÿÿÿÿ ''We tried to do something with video poker, and look at who blocked it,'' Moore said. ÿÿÿÿ Republicans said they would not accept anything that ties the state any more to video gambling. Budget negotiators already refuse to spend $52 million in gambling revenue available in this year's budget. ÿÿÿÿ ''We don't need any more video poker money,'' Ryberg said. ''We've got players and owners addicted to the money. We don't need to get the state addicted as well.'' ÿÿÿÿ Lawmakers have passed one piece of video gambling-related legislation since 1996: a bill to restore the results of a 1994 referendum that banned poker payouts in 12 counties. That law has been held up in court by video gambling operators. ÿÿÿÿ The state Supreme Court is deciding whether the video gambling industry, expected to grow to almost $3 billion by 1999, is an illegal lottery. No one knows when the court will rule. ÿÿÿÿ Gambling experts have long said the state needs stricter laws and regulations on video gambling. South Carolina and Montana are the only states that do not link video gambling machines to a central government computer to track wagers. ÿÿÿÿ