NY investment firm among owners of Maine casino
Headline Legal News
The former owners of the New Hampshire International Speedway and the Oxford Plains Speedway are the largest shareholders in a casino under construction in western Maine, and a New York investment firm also holds a large stake, according to the casino's business application.
Gary Bahre and his father, Robert Bahre, own 30 percent of the casino between them, according to Black Bear Realty Co.'s application, released Friday by the Maine Gambling Control Board. The Associated Press requested the application through Maine's Freedom of Access law.
A company called Maine Funding LLC is listed as owning 25 percent of the facility. Maine Funding is owned by Och-Ziff Real Estate Advisors, a New York firm that has been in involved in many gambling investments over the years, according to the application.
"Och-Ziff Real Estate has underwritten gambling-related investment opportunities across numerous jurisdictions (both state and local) ranging from major-market destination casinos to small slot route operations, working closely with property-level operators and developers to assess markets, operations and capital budgets," the application says.
Maine voters last fall approved a referendum proposing a destination resort casino in Oxford. The facility is now under construction and expected to open late next spring.
Related listings
-
Court to look at life in prison for juveniles
Headline Legal News 11/07/2011The Supreme Court on Monday agreed to decide whether juveniles convicted of killing someone may be locked up for life with no chance of parole, a follow-up to last year's ruling barring such sentences for teenagers whose crimes do not include killing...
-
Appeals panel sides with CBS over Super Bowl fine
Headline Legal News 11/03/2011In the latest court battle over the steamy 2004 Super Bowl halftime show, a federal appeals court ruled Wednesday that CBS should not be fined $550,000 for Janet Jackson's infamous "wardrobe malfunction." The 3rd Circuit Court of Appeals held its gro...
-
Scandal-plagued former Bell official sues city
Headline Legal News 11/01/2011Public outrage — and changed locks — forced Robert Rizzo out of a job last year, but the former city manager says he's still owed his $1.5 million salary and benefits. In a lawsuit against the city of Bell filed Monday, Rizzo claims he's owed his wag...
USCIS Issues Clarifying Guidance on NAFTA TN Status Eligibility for Economists
U.S. Citizenship and Immigration Services (USCIS) announced today that it is clarifying policy guidance (PDF, 71 KB) on the specific work activities its officers should consider when determining whether an individual qualifies for TN nonimmigrant status as an economist.
The North American Free Trade Agreement (NAFTA) TN nonimmigrant status allows qualified Canadian and Mexican citizens to temporarily enter the U.S. to engage in specific professional activities, including the occupation of economist. The agreement, however, does not define the term economist, resulting in inconsistent decisions on whether certain analysts and financial professionals qualify for TN status as economists.
TN nonimmigrant status is intended to allow a limited number of professionals and specialists to work temporarily in certain specifically identified occupations in the United States. This updated guidance provides USCIS officers with a specific definition of one such category – economists – allowing them to adjudicate applications in a way that complies with the intent of the agreement. This policy update clarifies that professional economists requesting TN status must engage primarily in activities consistent with the profession of an economist. Individuals who work primarily in other occupations related to the field of economics — such as financial analysts, marketing analysts, and market research analysts — are not eligible for classification as a TN economist.