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February 10, 2012 / 8:50 am





Casino Exec In Contribution Controversy

This year The USA will elect a new president, so everybody is watching the election campaigns of different level. Steve Beshear, recently elected Kentucky Governor and William Yung III, the Columbia Sussex Corporation head, and rich casino owner, are being placed under the spotlight at the moment. Yung appeared to contribute one million dollars to a political group which helped Beshear. Beshear occurs to be pro-gambling. He has just started to lift the question on prohibition of a casino in the state.

Yung has affirmed that he won’t apologize for helping Beshear to get elected, reporting that to give the political group the money was his First Amendment rights.

At the moment Beshear is writing an amendment to the constitution of Kentucky permitting to build seven casinos in combination with the actual horse tracks, and 5 others neighboring Ohio, Indiana, West Virginia, and Tennessee. All these casinos could help to make estimated 600 million dollars in tax revenue that would relieve the poor state. At present a lawmaker from Cincinnati, Ohio, is in process of writing an analogous proposal of building casinos in Ohio so that people of Ohio and tourists wouldn’t cross the Ohio River and would spend their cash in Ohio.

If they should happen to pass this proposal, it’ll be a shock since Kentucky is considered to be a Bible-belt state that has rejected lots of similar proposals for the last decade. Yung said if the law comes into force he will built a new casino on the northern Kentucky land bought by him in January. Alas, as Yung helped to pay for the inaugural party of Beshear, he may not get rights to build his casino. The opponents are already claiming Yung’s attempts to pay money for his way into the market, though Beshear rejects any favouritism. He claims that Yung must apply for the license like the others.

Columbia Sussex Company that belongs to Yung owns 13 casinos and 80 hotels already in the U. S. and abroad. He doesn’t think the land investment was too early; he claims that if it needs he can resell the ‘prime real estate’. At this time his company is being investigated in Indiana and New Jersey thanks to dubious employment practices when Aztar Corporation took control of the Indiana casino. Trying to stop the investigations in these two states, as well as keeping one casino from launching in Las Vegas, he has placed the Indiana and New Jersey casinos up for sale.




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