LEGISLATIVE FINANCE COMMITTEE FINDS GAMBLING AGENCIES FLAWED
The NM Legislative Finance Committee did audits Wednesday, May 15, on the NM Gaming Control Board, and the NM Racing Commission, and found that both agencies had major book-keeping irregularities and inadequate regulation. Although the tribal casinos and tracks take in over a billion dollars a year, and the state receives tens of millions in taxes and revenue sharing per year, the agencies say they don’t have enough employees to carry out their responsibilities.
Horse doping, “bush tracks,” lack of tribal casino regulation, and potential misappropriation of income were some of the problems covered in the meetings. Senator John Arthur Smith, vice-chairman of the committee, said that there is confusion and disarray in the agencies, and that they have a “mess on their hands.”
This story was covered in the Albuquerque Journal, but it didn’t get nearly the attention or the detail that it deserves, being on the second page of the third section. The AP story in Business Week gives more useful information. SPGNM will cover the committee findings in greater detail in future posts after the committee report is published. Some of the findings are shocking. Stay tuned.
