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Senator says he won’t profit from gambling

Wednesday, March 9, 2005 | 9:30 a.m.

HARRISBURG, Pa. -- A state senator who owns a stake in a piece of riverfront land and marsh in Philadelphia that has been optioned by a casino company said Tuesday he does not intend to profit from gambling, but has no immediate plans to divest his holding.

Sen. Michael Stack also said he believed he was following common practice when he did not disclose his interest before abstaining from a 2003 Senate vote on the sale of a portion of that land -- formerly state property -- to two companies, including the one in which he is involved.

Stack, D-Philadelphia, said he did not think his stake in the 46 acres along the Delaware River was inappropriate because the potential that a casino will be built there is "purely speculative."

"I don't have any (financial) interest in gaming nor do I intend to have any interest in gaming," Michael Stack said.

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