Massachusetts has been making the headlines over the last couple of months because of the disagreements related to the development of the casino industry. The state was about to have its gambling sector fully developed by 2016 but according to the latest information, this will not happen before 2018.
The first licensed gambling venue in Massachusetts – Plainridge Park Casino, opened doors for visitors on June 24th and its opening was regarded as a positive sign about the further development of the gambling sector.
According to the initial plan, Massachusetts was to have three more casinos in 2016. They were expected to boost the local economy and create hundreds of jobs. However, the projects were brought to a standstill and two of the venues will open doors for visitors no earlier than 2018. As for the third one, its fate is still unknown. The reason for the delay is a combination of factors, which result in annual losses of $1 billion.
Although the spokesman of the Governor Charlie Baker reassured the communities that the eventual revenue generated from gambling activities is not included in the future budgets, he confirmed that Mr. Baker is among casinos’ proponents and he wanted them operating as soon as possible.
Meanwhile, it became clear that the completion of the Springfield Casino project is to be postponed due to the construction of a massive highway in the vicinity. The Chairman of the Gaming Commission, Stephen Crosby, said that there was a good reason for the delay. Yet, he warned that the Everett casino project delay is to have more serious financial consequences for the state.
Wynn casino was intended to be the most important venue in Massachusetts. It was expected to fight the intensified competition coming from Rhode Island and Connecticut and attract players from the neighboring states.
Those who keep themselves informed about the matter, know that the Everett casino project faced yet another legal hurdle and the next court hearing is set for the end of September.
As for the casino industry in the southern part of the state, the projects remain in limbo. MassGaming Commission members have not taken a stance on the matter yet. They are to announce which of the casino bidders will be given the green light for establishing a casino venue.
There is another alternative that leaves the southeastern part of the state with no casino. Commission authorities might not back any of the proposals if they decide the market will become oversaturated.
The situation in Southeastern Massachusetts is further complicated because of the claims of the Indian tribes there.
The Mashpee Wampanoag tribe expressed interest in establishing a casino in Taunton. As for the Aquinnah Wampanoag tribe, it took actions towards establishing a casino in Martha’s Vineyard, which brought legal issues with the Town of Aquinnah.
Statistics shows that the Plainridge Park Casino generates decent revenue, but it is a small part of what the other casinos are expected to contribute to state’s coffers. The delayed casino projects halt the economy development of the state.
People with knowledge on the matter say that the worst scenario for the gambling industry in Massachusetts includes Wynn walking out of the deal, MGM changing its Springfield project and Southeastern Massachusetts not being awarded a license.
