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The state of Massachusetts appears ready to take the plunge into the world of legalized gambling. It is not, however, the elaborate plan that Governor Duval Patrick had in mind when he first suggested the idea.
Governor Patrick ran his campaign in Massachusetts with a platform that included bringing casino gambling to the state. His first efforts from last year were turned away by legislators, but this year it appears the idea is gaining momentum.
The state may have to take baby steps before it realizes the ultimate goal of Patrick, which is casino resorts. A plan is being proposed today by Treasurer Tim Cahill that would bring three slot parlors to Massachusetts.
Cahill’s plan is to place a twenty seven percent tax on revenue that is generated at these slot parlors. Under the proposal the halls would be allowed from 2,500 to 3,000 slot machines each. If approved, Cahill believes the state would bring in an additional $244 million.
Governor Patrick actually had projections that were lower than that of Cahill when he proposed his casino resorts. The money generated from Cahill’s plan would actually be higher for the state, with less gambling taking place.
The money that would be generated would come largely from licensing rights. Licensing fees would be paid under a fifteen to twenty year contract and could bring the state upwards of $2 billion.…