Legislation aids gaming moguls who’ve had legal troubles

Tuesday, April 5, 2005 | 9:17 a.m.

ALBUQUERQUE -- The majority owner of racetrack casinos in Hobbs and Ruidoso faces a federal lawsuit in Indiana that could jeopardize his gambling licenses in both states.

Pinnacle Entertainment filed a federal lawsuit Jan. 25 against track owner R.D. Hubbard. It alleges that he breached a settlement brokered by the Indiana Gaming Commission by trying to exercise his Pinnacle stock options. If a federal court rules against Hubbard, it could cause the Indiana Gaming Commission to take disciplinary action against him.

The same day the lawsuit was filed, a bill was introduced in the New Mexico Legislature that would give the state's Gaming Control Board the authority to grant gambling licenses to people and organizations that have had gambling licenses revoked in other states. Currently a revoked license in another state means an automatic denial in New Mexico.

archive