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Pennsylvania Legislators Want Slot Rules Changed

HARRISBURG, Pennsylvania – As reported by the Associated Press: "A group of state representatives said Wednesday they plan to introduce legislation designed to prevent fellow members of the General Assembly from holding ownership stakes in the new slot-machine industry.

"Their proposed changes to the landmark gambling law passed in July could reopen debate on the measure that authorized up to 61,000 machines at 14 venues, with a third of the revenues going to reduce property taxes.

"…The current law allows state legislators to own securities worth up to 1 percent of a slots operation -- a provision that was designed to accommodate secondary ownership through mutual funds or pension funds. It has generated a measure of public outrage and editorial criticism since being reported in the aftermath of the slots debate, although other states with gambling allow legislators to have ownership shares…"

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