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Senator Cut from Pennsylvania Deal

FISHTOWN, Pennsylvania – As reported by the Philadelphia Daily News: "A Las Vegas casino company yesterday cut state Sen. Mike Stack III and his family out of its proposal to build a slots parlor on the Delaware River in Fishtown.

"Ameristar Casinos Inc. said it reconfigured its option to buy a plot of waterfront land because of lingering questions about Stack's role in a state sale of the water rights to the land.

"…Ameristar optioned the 46-acre plot, owned in part by Stack's family, in August for $37 million.

"The state General Assembly in 2003 voted to sell the water rights to 22 acres of that land, slashing the price from $1.5 million to $100,000 because of environmental pollution there.

"Stack did not vote on the issue but he failed to disclose his ownership then, as required by the state Constitution and Senate rules.

"…In an announcement yesterday, Ameristar said it was unaware in August 'of the potential for conflict-of-interest concerns as a result of Sen. Michael Stack's alleged failure to adequately disclose his 4 percent interest in Beach Street Corp. in accordance with Senate rules…"

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