Loan from lawyer comprises most of backing for Arkansas casino proposal

Tuesday, July 11, 2000 | 9:54 a.m.

Attorney Bob Buchholz, who practices in Little Rock and Dallas, has loaned the Arkansas Casino Corp. $181,000, according to reports from the corporation. The corporation reports it has raised $185,200 and spent $184,860.54 to get the initiative on the Nov. 7 general election ballot.

On Friday, the group turned in 80,881 signatures to the secretary of state. To get on the ballot, the secretary of state's office needs to certify that 70,701 signatures are those of registered Arkansas voters.

On Monday, Buchholz said the loan money was his own and did not come from an out-of-state organization. He said he provided the cash as a loan in the hope of getting it back if the measure passes.

"If it doesn't pass, I guess it will be a contribution," Buchholz said.

The corporation paid most of its money to National Voter Outreach of Carson City, Nev., to gather signatures on its petition.

The proposed amendment would give the company the exclusive right to build casinos in Pulaski, Sebastian, Garland, Boone, Crittenden and Miller counties. It would also establish a state gambling commission to oversee operations at the casinos, establish a state lottery and authorize charity bingo.

Bobby May of Forrest City, a former Lee County sheriff, is listed as corporation president. Its other officers are Chairman Tommy L. Goodwin of Little Rock, former Arkansas State Police director listed in public records as the corporation's sole incorporator. He is also chairman of the corporation's board. Bob Means of Little Rock, a financial planner, is the corporation's vice president.

Buchholz said Monday that the corporation's board includes himself, Goodwin, May, Means and 19 other Arkansans.

"This is not being backed by a bunch of out-of-state casino interests," Buchholz said. "The money to put together this corporation came from a group of Arkansas businessmen and farmers."

Buchholz said he did not have the names of other board members at hand. May said he would have to ask the other board members if he could release their names.

The secretary of state's office does not require all board members be listed on articles of incorporation.