September 27, 2011 |
No James Bond or other high-roller types here. We touched on the current 3 casino/1 slot parlor bill in debate on Beacon Hill. It seems certain to pass this time.
Fortuitousness (no gambling pun intended), Mike went to a Suffolk Law Rappaport Center program yesterday on the broader subject. The speaker was William Eadington, University of Nevada at Reno economics professor and director of its Institute for the Study of Gambling and Commercial Gaming.
Mike and Ryan are not casino supporters and would like one of the slim hopes that this bill fails to manifest. Ryan describes some of the outcomes, including lawsuits and ballot initiatives. Even if the bill becomes law this fall, casinos would be several years away.
Listen too as Mike relays some Eadington experiences and judgments, including:
- If you’re going for casinos, the commission setting up and regulating it needs to be totally transparent and populated with those of absolute integrity (not something we’re famous for here)
- The process should take four to six year, and ideally will start with proof of concept plans from bidders, before any sites or operators are chosen
- The jurisdiction needs to be very clear about what it expects from casinos, prioritizing its goals
Eadington was plain that expecting financial miracles from casinos is totally unrealistic. However, mandating investment in resort casino(s) to create vacation areas to elevate the site and bring in tourists is possible.
Listen in as we begrudgingly discuss the likely and possible.