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Ky. Lawmakers Start Reviewing Casino Proposals

Casino Billionaire Elaine Wynn Bought The Most Expensive Painting Ever Sold At Auction

Francis Bacon painting The state endured about $1.6 billion in state spending cuts the past six years as tax collections plunged amid the deep recession. A panel of the state's top economists predicted state General Fund revenue will grow by nearly $500 million over the next two-year budget cycle that starts July 1. But some big-ticket demands, such as shoring up the government pension system, will consume much of the added revenue. Gov. Steve Beshear, a casino gambling supporter, has warned lawmakers that he's willing to propose "harmful cuts" to some government programs to free up money for education. Beshear said Wednesday that one encouraging sign for the expanded gambling issue is the amount of conversations between House and Senate members.
For the original version including any supplementary images or video, visit http://www.businessweek.com/ap/2014-01-16/ky-dot-lawmakers-start-reviewing-casino-proposals

AC Casino Revenue Below $3B; 1st Time in 22 Years

Wynn put the piece on temporary exhibit at the Portland Art Museum, but her long-term plans for the painting are unclear. It will be on display in Portland until March 30. "Three Studies of Lucian Freud" depicts Sigmund Freud's grandson, a fellow painter and friend of Bacon's. Bacon is known for his figurative portraits of men. He died in 1992.
For the original version including any supplementary images or video, visit http://www.businessinsider.com/elaine-wynn-buys-francis-bacon-painting-for-142-million-2014-1

Why it won't get the casino: Voters in Saratoga County generally -- and Saratoga Springs specifically -- voted against the state constitutional amendment allowing full casinos. There's already organized and vocal opposition to the idea of a Saratoga casino. And Saratoga Springs' new mayor, Joanne Yepsen, has warned that a casino could hurt the city's downtown . And that might hint at some cultural friction, both in Saratoga and other parts of the Capital Region. Sure, The Track is gambling, but it's also history, it's horses, it's women in fancy hats and men in seersucker suits, it's classy -- or, at least, that's the image a lot of people have in their minds of it.
For the original version including any supplementary images or video, visit http://alloveralbany.com/archive/2014/01/16/capital-region-casino-site-odds

Capital Region casino site odds

21. "Our network has attracted the largest pool of players in the New Jersey online market, allowing us to offer our customers a wide selection of games and table stakes at all times," said Keith Smith, president of Boyd Gaming, which owns half of the Borgata. "This gives our network a significant competitive advantage and positions us for further success." He also said the initial figures answer one key question, at least for the Borgata: whether Internet gambling will bring in new revenue, or simply cannibalize existing brick-and-mortar operations. "When matching our online and land-based databases, we found that 60 percent of online casino customers had not been to Borgata in over a year, and over 75 percent had made fewer than two trips to Borgata in the past year," Smith said.
For the original version including any supplementary images or video, visit http://abcnews.go.com/US/wireStory/ac-casino-revenue-3b-1st-time-22-years-21530284

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