Massachusetts May Have Casinos After All

BOSTON, Massachusetts -- As reported by the Worchester Telegram, the Las Vegas Review Journal, and the Australian: "Gov. Deval L. Patrick yesterday laid out his plans to bring casino gambling
  to Massachusetts, proposing three resort-style gambling casinos and promising to dedicate up to $450 million in annual state revenues to rebuilding roads and bridges and local property tax relief.

"The governor said he would limit the casinos to one in Southeastern Massachusetts, one in Western Massachusetts and one in Boston or north of Boston. He said he expected they would create more than 20,000 jobs and billions in state tax revenue.

"Half the revenues, he said, would be dedicated to direct property tax credits to low- and moderate-income homeowners while he argued that economic expansion from casinos would help pay for health care programs and better public safety.

"The plan, if adopted by the Legislature as proposed, would mean no casinos would be built in Central Massachusetts. So far, however, House leaders are saying they are not convinced casinos should be allowed in Massachusetts..."

Harrah's Entertainment, MGM Mirage and Las Vegas Sands Corp. expressed interest Tuesday, but want more information before proceeding.

The proposal, which was announced Monday but must be approved by the state Legislature, projects the first casinos opening as early as 2012.

However, Gov. Deval Patrick's announcement lacked key details, such as gaming tax rates and proposed slot allowances, that could determine the companies' levels of interest

"Until the details of how this process is going to work are known, it's too early to tell if it is a viable opportunity," said Alan Feldman, senior vice president of public affairs for MGM Mirage. "We're going to have to wait to see how this plays out."

He did not propose a specific gaming tax rate in his announcement, although Patrick's plan would require the casinos to help fund new state gaming regulating and investigation departments.

The Boston Globe on Tuesday reported the state's gaming tax would be 27 percent of all gaming tax revenue, a number that could not be verified late Tuesday. Nevada's tax rate is 6.75 percent.

In related news, James Packer's casino and gaming empire has fingers in many casino pies, from Melbourne to Macau, but with another big 'M opening up as a potential market — it has a few executives at PBL salivating.