Opinion: New Mexico compact lax on regulation

Thursday, March 15, 2007  

"Bugsy Siegel was the guy who turned Las Vegas, Nev., into the gambling mecca it is today. He did pretty much what he wanted in what was then pretty much trackless desert. Made a bunch of money. Built a casino or two. Finally got killed for his trouble.

Now it looks like the Legislature and governor are about to pass and sign a new gambling compact with 10 of 13 tribes that installs regulation, oversight and policing of the gambling industry on a level that would make Bugsy drool.

Our office holders seem busy figuring out how to spend the extra $600 million the new deal will bring in. Too busy to also worry about money laundering, embezzlement, slot fixing and other fun stuff known to occur around a high-volume, all-cash business.

What's the hurry to pass a bill that has no regulatory protection for either the tribes or the non-Indian public? Sure $600 million is a nice chunk of change. But it will still be there for the taking after a respectable and intelligent regulatory program for Indian gambling in New Mexico is in place."

Get the Story:
Steve Lawrence: N.M. cannot trade gambling revenue for efficient regulation (The Albuquerque Tribune 3/14)