The governor says he did nothing wrong. Foster's ownership in Park Palace Entertainment, the world's largest casino company, are outlined in disclosure reports he submitted. The filing said Foster received 7,500 shares of Park Place stock Jan. 7 after Hilton Hotels Corp. spun off its gambling interests. Foster said he inherited an undisclosed amount of Hilton stock after the deaths of his father in 1980 and mother in 1990.
State law requires governors to disclose their stock holdings only when shares are bought or sold.
Hilton operated the now-defunct Flamingo riverboat casino in New Orleans until 1997 and won approval to transfer its license from the state gambling board appointed by Foster. A Park Place subsidiary owns a minority share of Bally's riverboat casino in New Orleans. Law draws line at casinos State law prohibits elected officials from engaging in ''business activity'' with holders of Louisiana gambling licenses. Foster said he was unaware until Wednesday morning that he owned shares in Park Place. Foster said he briefly considered keeping his shares since the gambling law states that elected officials are banned from ''modifying ownership'' of stocks in companies that hold gambling licenses.