Casino owners must meet strict guidelines
We applaud House Republicans in Harrisburg for last week calling for tighter financial requirements and closer scrutiny for casino operators who renew, transfer or apply for gaming licenses.
We only hope that the call has not come too late.
The recommendation came after a House Republican Policy Committee hearing that was prompted, in part, by financial concerns about Don Barden, who was awarded the license to build Majestic Star Casino in Pittsburgh.
But questions about Barden's financial stability linger, mostly due to the fact that he has yet to secure all the necessary financing for Majestic Star, but also because casinos he owns in other states reportedly are losing money.
When it comes to the gambling industry, perception is everything. Opponents are quick to claim that the industry,historically, has been rife with corruption and always has attracted an unsavory element.
They no doubt see a casino owner who is having financial troubles as a potential target for just such an element.
It is imperative that anybody who is granted a gaming license be miles above such reproach, and many of the
recommendations the committee made would help make that more of a certainty.
Among the suggestions at the hearing were stipulating that casino applicants not be allowed to borrow money to pay the $50 million licensing fee imposed by the state, and that they
be required to use their own money to pay for at least a third of the construction costs.
Those suggestions make sense.
We remain confident Barden will succeed in completing his state-of-the-art casino on the North Shore and wish him luck in pursuit of that endeavor.
But we also hope any future casino owner, here or anywhere else in the state, begins the process on significantly firmer financial footing.
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