he bill will allow the construction of three casinos – in the Greater Boston area, the southeast and the Commonwealth. These establishments would operate in direct competition with the Indian resort casinos in Connecticut in a bid to raise revenue for state coffers.
According to Democratic Senate President Therese Murray who issued a statement after the bill was passed, it is hoped that around us$ 350 million in revenue will be earned each year for Massachusetts. Further, it is believed that 15,000 permanent jobs will be created, with 9,000 extra people finding work in construction.
Besides the revenues from casinos, secondary income could be derived from tourist resorts and hotels that would spring up around them. A study that was commissioned by the Senate showed that as much as us$ 250 million extra in revenue could be reaped by these attractions.
The competing plan that has already been enacted by the House was introduced by Governor Deval Patrick and supports the creation of two casinos and the introduction of 750 video lottery terminals at racing tracks in the state.
It is hoped that all the parties involved in both bills will be able to reach a compromise before the deadline arrives at the end of this month. “Passing expanded gaming legislation is vital to creating jobs and economic growth in Massachusetts,” said House Speaker Robert DeLeo.
The Senate said that 90% of the revenue from casinos would be divided equally among three vital causes: economic development in the state, debt repayment and the lottery fund. The other 10% would be used for racetrack relief, among other things.