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Tuesday December 6,2011 : Tax changes, public -private partnerships and legalised gambling part of governor's plan
New York governor Andrew Cuomo wants to overhaul the tax system, use public-private partnerships to repair the state’s infrastructure, and legalise gambling as part of a wide-reaching jobs creation plan, according to an opinion editorial piece that his office despatched to media outlets over the weekend.
The Bloomberg news group reported that the governor is seeking bi-partisan support for his plan to address a $350 million deficit in the current fiscal year and as much as $3.5 billion in fiscal 2012, which starts April 1.
The plan will be discussed Tuesday and Wednesday in special Republican and Democrat meetings of the state's politicians. The Legislature had not been scheduled to reconvene until January.
In the opinion piece, Cuomo called for establishing a state infrastructure fund to finance the repair and development of highways, bridges and major construction projects… without specifying the amount of money involved.
“I will be reaching out to Democratic and Republican officials in a spirit of cooperation and compromise so that together we can enact a real economic program that creates jobs,” Cuomo wrote.
Cuomo described revenue as “collapsing” during a press conference in Albany last week as taxes collected on Wall Street wages and bonuses decline.
The governor, who took office in January 2011, has cut spending and won concessions from labour unions. He is now seeking a stimulus package that would increase spending on road and bridge construction; finance new programs to train poor urban youths; and legalise resort-style casino gambling to raise tax revenues.
“Our goal in New York should be twofold: to fashion a job-creating economic plan, and to defy political gridlock like we see in Washington and make government work to actually implement the plan,” Cuomo wrote.
However, observers have pointed out that some of the changes will take time to implement: legalising full-scale commercial casinos would require amending the state’s Constitution, for example - a process that would require approval from two consecutive Legislatures and then a voter referendum.

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Gambling News :

Yggdrasil Gaming Expanding - The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.

FanDuel and DraftKings Settle With NY Attorney General - Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.

Stan james Now Live With EPOS - The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.

Singapore Online Gambling Ban Begins - Singapore media reports indicated Tuesday that restricted online gambling services offered by the Singapore Pools have started online operations, whilst Singapore Turf Club will commence online betting activity on November 15.

Chinese police action against Crown Resorts Widens - In addition to the 18 Crown employees still held after their arrest last week, it now appears that the police questioned 87 Crown punters and junket organizers, detaining 10 of the latter.

Pennsylvania Online Gambling Updates - Pro-online gambling companies, including the Golden Nugget in New Jersey and Pokerstars, were quick to refute Schippers views based on their operational experience.

WSOPE In Czech Republic - World Series of Poker Europe 2017 has moved to King’s Casino Rozvadov (KCR) in the Czech Republic following a multi-year deal that will see KCR host numerous WSOP-branded events over the next several years.

Medialivecasino in Deal With Microgame - #Medialivecasino live dealer games have already gone live with Microgame joining content from other well-known providers NetEnt and Evolution Gaming.

BtoBet Partners with AfroBet - Following the launch in Kenya, Afrobet said it has high hopes for further expansion into East Africa, Tanzania, Uganda and Congo.

Pissed off Tabcorp shareholders - A significant number of Tabcorp shareholders, led by The Australian Shareholders Association, reportedly objected to proposed hikes in executive pay packages and were unhappy with the company plans for a merger with rival gambling group Tatts.

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