Monday, August 21, 2006
Slots of interesting names among Pa. parlor shareholders
This country balked at the idea of having foreign - especially Arab - ownership of our nation's ports.But apparently it's perfectly fine to have some foreign investors profit from the quarters plunked down in Pennsylvania's 14 future slots parlors.
Watche "Bob" Manoukian, a Lebanese businessman considered one of the wealthiest men in the United Kingdom, would own the planned slots parlor at Philadelphia Park, the Bucks County race track he already owns, the Associated Press reports.
Manoukian's name appears among a lengthy list of investors and their shares of ownership in the 22 applications the state Gaming Control Board released today after first refusing to disclose it.
To tell you the truth, I have far more of a problem with the fact that Manoukian lives in England than I do with his native war-torn homeland of Lebanon.
It just adds to our foreign trade imbalance.
I just think Pennsylvania's dollars - even those pissed away at a race track - should stay as much as possible within the state to benefit its residents through the economic multiplier effect.
But that's not likely to happen if some of the applicants receive slots parlor licenses starting Sept. 27.
For instance, one group vying for a slots parlor in Philadelphia is headed by the family of billionaire Chicago real-estate developer Neil G. Bluhm.
The Connecticut-based Mohegan Indian tribe stands to gain from another proposal, this after Legislators refused to let Pennsylvania's native tribes gain a piece of the action.
Oh well, at least some Pennsylvanian residents stand to gain from the slots parlors.
One of them is Charles R. Zappala, the uncle of Allegheny County's district attorney. Should be fun if his proposed Pittsburgh parlor ever runs afoul of the law.
The group behind the proposed Riverwalk casino on Philadelphia's riverfront includes a handful of labor leaders among its more than 30 investors. (I guess there will be no work stoppages, slow downs or missing supplies on that construction site.)
Brian P. Tierney, chief executive of the company that owns The Philadelphia Inquirer and Daily News, and Pat Croce, the former president of the 76ers, would also each own a little over 7 percent of Donald Trump's proposed slots casino in Philly.
To see a complete list of investors and what share they have in proposed slots parlors in pdf format, click here.
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The Daily Rant by Dave Ralis is licensed under a Creative Commons Attribution 3.0 United States License.
The Daily Rant by Dave Ralis is licensed under a Creative Commons Attribution 3.0 United States License.
