POLL: State Is Betting on Casinos

Casinos could be coming to Massachusetts.

Gov. Deval Patrick signed the casino bill legislation today in a ceremony in Boston. The bill would allow up to three resort-style casinos in Massachusetts, in different geographic areas.

According to the statement, the three potential resort casinos will be located in three geographically-distinct areas, with up to one facility in Region A (Suffolk, Middlesex, Essex, Norfolk and Worcester counties), up to one facility in Region B (Hampshire, Hampden, Franklin and Berkshire counties) and up to one facility in Region C (Bristol, Plymouth, Nantucket, Dukes and Barnstable counties).

The licensing fee for each casino will be at least $85 million and capital investment, including a hotel facility, must be at least $500 million, Patrick stated. The state will receive 25 percent of gross gaming revenues from each casino. 

A slots facility, also authorized by the legislation, will allow up to 1,250 slot machines, and will be competitively bid for one location. That license will cost at least $25 million, and capital investment must be at least $125 million. The state will receive 40 percent of gross gaming revenue on the slots facility, with an additional nine percent of revenues from the facility going to a new Race Horse Development Fund to promote live racing, according to the governor.

A five-member gaming commission appointed by state leaders will consider license applications for particular sites.

 “The final chapter in the long debate on expanded gaming has come to a close," Patrick said, in the statement released Tuesday.

"I congratulate Senate President [Therese] Murray, Speaker [Robert] DeLeo and members of the legislature for sending me a bill that will put people to work and strengthen the Massachusetts economy. I have always believed that if done right, expanded gaming can create jobs, generate new revenue and spur economic growth in every region of the Commonwealth."

The governor stated he will appoint the chairman of the gaming commission, which will vet applications. The state attorney general and state treasurer will each appoint another member. The remaining two members will be appointed by two out of the three appointing authorities. The gaming commission will be bipartisan, Patrick said, with no more than three members representing the same political party. The commission will be appointed within four months.

So is this a good move for Massachusetts?