In the Speaker's haste to ram (pardon the pun) a Slots bill through at any cost, even at the cost of ignoring important things ...oh, like the $144 Million Spectrum Gaming predicted would be cut from cities and towns and the willingness of Representatives to follow like sheep (with a 37 impressive exceptions), where's the $144 Million?
Photo by Tackling Groupthink: red flags and solutions How appropriate?USS Mass has been using the conservative figure of 90 million loss to lottery/local aid...here's Spectrum Gaming's analysis. This is addition to the FY 11 local aid cuts that have been announced.
p135
With that in mind, we suggest the following: For the first three years following the opening of each destination casino, the revenue required to ensure that the lottery‘s ability to distribute funds should be the responsibility of the casino operators, rather than requiring that it be funded from the Commonwealth‘s share of gross gaming revenue, as presently proposed.
The Massachusetts Taxpayers Foundation assumes that lottery net profits before distribution (the amount returned to the Commonwealth) would be about $1.07 billion in 2012,
The Impacts of Expanded Gaming on the Commonwealth of Massachusetts p.136
the base year. Thus, each 1 percent annual increment would be $10.7 million. If we accept the foundation‘s analysis, which assumes a 5.5 percent decline in lottery revenue followed by a 1.5 percent growth rate in 2013, the annual amount needed to ensure that the Lottery maintains its 3 percent growth rate is not adversely affected, as per the proposed legislation, would be $144 million, under the legislation as constituted.
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