Saturday, July 31, 2010

The Compromise is a No Bid Contract

You'll hear the media report this casino compromise as a situation where four tracks will bid for two licenses, but that's not true.
Patrick said that since two of the state's racetracks - Wonderland Greyhound Park in Revere and Suffolk Downs racetrack in East Boston - are pursuing a casino license, the two slot parlor licenses would automatically go to the state's two remaining tracks.
This thing is still a no-bid, free-money kind of deal. Buyer Beware.


Anonymous said...

Wow you must be so proud of the way the Democrats are looking out for the best interest of the people of the state, debating adding a few casinos. Barely a mention of Barney Frank sponsoring Internet gambling, now that's really going to help out the situation!

Ryan said...

The Barney Frank bill is a scary one, indeed. I fear that becoming law, big time.

BTW: It's not "just a few." The effects of slot machines generally reach out to a 50 mile radius.

Three casinos, never mind three casinos and two racinos, would cover the entire state in that net. After the cannibalization slots would have on taxes from local businesses and the state lottery, chances are Massachusetts would actually *lose* revenue relative to gambling tax revenue we generate now.

It does one no good to push for something without understanding the costs. I don't oppose casinos and slots in this state because I'm morally opposed to gambling -- I oppose them because they don't make economic sense and won't generate us new revenue or any permanent jobs when all is said and done.

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