Spectrum Gaming Group stands to win
When is a conflict of interest a conflict of interest? Only in the crazy world of casino gambling. Imagine:
You’re in the casino industry, with a ton of clients. A state pays you fistfuls of taxpayer dollars to report whether casinos are a good fit because “you’re an expert.” Your totally objective study — wink, wink— says, “But of course!” Then, once the state legalizes megacasinos, you end up being hired to help regulate former clients.
Welcome to Florida, where Atlantic City- based Spectrum Gaming Group is about to showits hand about whether more gamblingwould be good for Florida. The consulting firm has a history ofworking for virtually every type of gambling, in America and in Florida.
Spectrum’s report is expected to be released on Oct. 1. The Florida Legislature paid Spectrum $ 400,000 for its ‘ objectivity.’
Just two years ago Spectrum Gaming Group teamed with theMalaysian casino giant called the Genting Company as a part of Genting’s failed lobbying efforts to build theworld’s biggest casino in downtown Miami. Genting remains one of the major players in trying to legalize megacasinos in Florida.
And Spectrum’s executive motto is like Alfred E. Neumann’s atMad Magazine: “What— MeWorry?” Consider that:
Spectrum Gaming Capital’s CEO worked for a bank where hewas responsible for coordinating its gambling franchises around theworld, arranging transactions.
Spectrum Gaming Group’s VP for “analysis” previouslywas the VP for planning and “analysis” at a gambling company.
In addition to those two, Spectrum’s executive roster boasts a bounty of experience with and connections to theworld of gambling. You can almost hear the ka- ching, ka- ching of the company’s cash register as Spectrum recommends more casinos and other gaming for states like Florida.
Spectrum stands to benefit financially from expanded casino operations. Rosy economic predictions are the company’s stock in trade. In fact, Spectrum’s blindingly optimistic projections about finances have caused leading national observers of gambling issues to dub the firm “the roll- out team for casino expansion.”
This is what Spectrum Gaming Group does. This is what Spectrum Gaming Group’s executives do.
Florida, grab your sunglasses. The glare Spectrum promises can be more blinding than high noon above sugar- white sand. If Florida expands casino gambling, Spectrum could reap the benefits.
Should inmates guard the asylum? It’s a mad, madworld, Florida.