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Week in review: 6/15/12

Study: State should bet on 6 for casinos

Maryland’s gambling market can absorb a sixth casino — and already-approved facilities will make more money — if the state also legalizes table games, according to a joint study by state fiscal analysts and PricewaterhouseCoopers. A casino at National Harbor in Prince George’s County with 3,000 slot machines and table games would generate $460.7 million in gross revenue for the state annually, the study said. Combined with the five already-approved casinos, overall casino revenue would increase $246.1 million, to almost $1.6 billion.

Henson given 60-day sentence

Political consultant Julius Henson was sentenced to 60 days in prison for his role in sending automated robocalls to curb Democrat voters from heading to the polls in the 2010 gubernatorial election. Baltimore City Circuit Court Judge Emanuel Brown sentenced Henson to a year in prison with all but 60 days suspended. Brown also put Henson on three years’ probation and ordered him to perform 300 hours of community service over the next two years. During his probation, Henson is banned from working as a political consultant.

Court OKs Dream Act referendum

Maryland’s top court cleared the way for an Election Day referendum on the state’s Dream Act, which would permit qualified undocumented students to receive in-state tuition at public colleges. Casa de Maryland, an immigrant rights group, had sought to block the referendum, arguing that the law would require the state to appropriate funds and was therefore constitutionally barred from being put before the voters.

17 percent drop in Legg Mason CEO’s pay

Legg Mason Inc., the Baltimore-based money manager with 18 straight quarters of redemptions, paid Chief Executive Officer Mark Fetting $4.94 million in fiscal 2012, a 17 percent decrease from the prior year, according to a regulatory filing that calculated pay using U.S. Securities and Exchange Commission rules.

Quick gambling study to be costly

Warren G. Deschenaux, director of the state Office of Policy Analysis, said PricewaterhouseCoopers is likely to charge Maryland “hundreds of thousands of dollars” for the quick turnaround of the gambling study. And he’s not even sure the study’s projections will be correct or that a longer-term study would have cost less.

Catholic Review cuts back print edition

The Catholic Review has become a biweekly, rather than weekly, printed publication. Chris Gunty, the Review’s associate publisher and editor, said the change stems from a lengthy planning process that showed that readers wanted to receive local, national and international Catholic news not only in print, but also via the Web and through social media sites.

SECU, AA County credit union to merge

Members and regulators have approved a merger of SECU, Maryland’s largest state-chartered credit union, and the Anne Arundel County Employees Federal Credit Union. SECU, with about 220,000 members and more than $2.2 billion in assets, is scheduled to officially acquire the 14,000-member, $85.9 million AACE FCU in August.

Preliminary OK for city bottle tax

The Baltimore City Council gave preliminary approval to a proposed 3 cent increase in the city’s bottle tax hours after the controversial measure was voted out of committee without a recommendation.

Baltimore County bonds rate AAA

Baltimore County Executive Kevin Kamenetz announced that Baltimore County has once again earned an AAA bond rating — the highest available — from the three major rating agencies: Fitch, Standard and Poor’s, and Moody’s Investment Service. In addition to Baltimore County, only three other Maryland counties have Triple A ratings from all three agencies: Howard, Montgomery and Prince George’s counties.

Under Armour stock to split

Under Armour Inc., of Baltimore, a manufacturer and distributor of athletic performance apparel, footwear and accessories, announced a two-for-one split of its outstanding common stock, its first since it became a publicly traded company in November 2005.