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Executives want ‘synergy’

Oct 26, 2004 5:21 AM


To Paul Rubeli, chairman and CEO of Aztar Corporation, casino operators should work toward a mutually-beneficial relationship with regulators.

"It’s a partnership," he said. "That’s the important premise. Regulation through regulators plays a fundamental role by assuring the integrity of our industry and its revenues."

Rubeli offered a five-point "wish list" that he believes will create a positive, mutually-beneficial relationship between the industry and regulators.

"First, we need regulators to treat us like a partner," he said. "Second, (regulators) must understand the industry’s role as a base for maximum cash flow. Third, don’t play ”˜I got you.’ Fourth, they should provide assistance to the industry. Fifth, regulators must look beyond the four-year (election) period."

Rubeli said the major problem with his list is that the industry never agrees on anything.

"Maybe, it’s the feeling that there is a conflict of interest," he said. "I think Nevada and New Jersey provide the best results through regulation. Legislatures have to realize that we are a business and, as such, our goal is to make money."