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Canadian Firm Bets on Oregon Casino

Posted on October 31st, 2010

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The stakes of the upcoming elections on November 2 may actually have international repercussions. This is brought about by casino referenda that some states are conducting during the elections. Apparently, it looks like some companies outside the US have funneled investment money into some of these casino campaigns. One of these casinos is in Oregon, where a Canadian investment firm has contributed more or less $2 million into a movement asking voters to say yes to the state’s first privately owned casino. Aside from the casino proposal, voters of Oregon will also be deciding on six other measures in the ballot. The gambling proposal though seems to be the most hotly contested measure.

Finance records of the casino campaign in Oregon have established that Clairvest Investment Group Inc., a company based in Toronto, is the only company funneling funds in the promotion of Measure 75. This measure would allow a casino that would be operated by private entities. The proposed casino will be put up where the Multnomah Kennel Club dog track used to stand, in an area just outside Portland. Opponents against the measure have raised $560,000 for campaign funds. The opponents are led by Spirit Mountain Gaming Inc., a tribal casino operator with a facility located southwest of Portland. Meanwhile, the Canadian firm is reported to have collected close to four times that amount. The Oregon Tribal Gaming Alliance, through its spokesman Justin Martin, was quick to point out, ‘They don’t have Oregon values in mind. They don’t live in Oregon communities.” The alliance represents the nine Oregon Indian tribes that function as operators of casinos.

Aside from this interest in Oregon, Clairvest also has casino investments in its native country, as well as in Chicago and Chile. The firm would also be the primary investor in the Oregon casino should it be approved by voters. The casino is pegged at $250 million. This will be the first time the company is financing a ballot initiative. However, if polls are to be believed, the company may have to look for other investments, as the casino opponents are leading as of the moment. The proponents of the casino are using the usual attractions like thousands of temporary and permanent jobs and millions in tax dollars to be generated. Casino proponents also claim that having a casino in Oregon would aid in stopping Oregon gambling dollars from being funneled to La Center, WA, where the Cowlitz Tribe is planning to construct a casino. A casino in the area would attract residents from Oregon and would cause revenue to be siphoned away from the state.

Tribes who are against the measure argue that having a privately owned casino would be in violation of an agreement that mandates casinos to be operated only in tribal lands. Justin Martin, spokersperson for the tribal gaming alliance in Oregon, knows that his primary concern with a privately-owned Portland casino may take customers from tribal halls. But he claims that his bigger fear is that by passing this measure, voters would be allowing private investors to profit from gambling, putting tribal casinos on the disadvantage. On the other hand, Bruce Studer, a businessman based in Lake Oswego who will be investing in the casino with Matt Rossman, an attorney, said, “We’re fortunate to have partners, wherever they come from, willing to help Oregonians take advantage of this opportunity and willing to invest in Oregon.” The alliance spokesman said Indian tribes are reliant on gambling dollars for funding of social services and government programs. The Tribal Gaming Alliance commissioned a report which claimed that tribal casino revenue took the tab for $147 million in tribal government services in 2008. Moreover, the report also stated that $7.5 million was contributed by the tribes to community foundations.

Aside from the private casino measure, other measures on Oregon’s ballot include measures that ask voters to create marijuana dispensaries for medical use, the allocation of state lottery revenue and the requirement of having lawmakers meet every year. Currently, the requirement for the Legislature is to meet only in odd-numbered years. The fate of the casino campaigns, along with the rest of the referenda,] will be decided on Tuesday, 8 p.m.