Two casino deals OKed, Wampanoags still wait
Palmer signs with Mohegan Sun, Revere inks Suffolk Downs agreement with Caesars Entertainment - Mashpee Tribe still waiting for legislature's approval of new compact with state
Revere and Palmer ink Casino host agreements
Since the state has authorized a total of three casinos, if the two signed yesterday are approved by the Gaming Commission, it leaves only one spot left in Massachusetts for the third casino.
While that third spot was meant to go to the Mashpee Wampanoag Tribe, their difficulties with both the State Legislature and the Bureau of Indian Affairs may yet open up the Southeastern Massachusetts territory to a non-tribal commercial bidder.
Early last month John Ribeiro, an anti-casino activist from Winthrop behind the Repeal the Casino Deal group, filed a petition with the attorney general to start the initiative petition process and block casino gambling in Massachusetts. If the ballot question is approved by voters it would essentially gut the 2011 law by making the types of gambling relied on by casinos to lure customers and make money illegal in Massachusetts.
The Sun shines $16 million on Palmer
Mohegan Sun announced Thursday an agreement with the town of Palmer under which the town would receive more than $16 million in annual payments to mitigate the impact of hosting a proposed resort casino. Additional road, sewer and water infrastructure improvements totaling $23 million are part of the agreement.
The $16 million includes fixed payments of $15.2 million and a percentage of gaming revenue equal to 0.25 percent of the first $400 million in revenue, with Mohegan officials saying the guaranteed payment alone exceeds the entire local tax revenue for the town in fiscal 2014. The town would also receive an additional 2 percent from every dollar of gross gaming revenue from the facility above $400 million a year.
Bostonians Hail Caesar at $15 million a year
On Wednesday night, Suffolk Downs and Caesars Entertainment, competing for the eastern Massachusetts casino license with a proposed casino in East Boston, announced an agreement with the city of Revere, committing to annual payments of $15 million once the proposed casino is fully operational, with payment levels tied to the casino's performance.
The agreement also includes up to $16 million in one-time investments in Revere, including capital commitments related to municipal projects such as a new football field and youth center. Suffolk and Caesars on Wednesday announced an accord with the city of Boston that includes $45 million in transportation and roadway improvements in East Boston and Revere. Host agreements and local voter approval of casinos are necessary precursors to winning casino licenses that will be awarded by the Massachusetts Gaming Commission.
Whether the Wampanoags?
Voters in Taunton have signed off on a casino proposed by the Mashpee Wampanoag Tribe. The tribe's redrafted compact with the state, negotiated with Gov. Deval Patrick, has been pending before the Legislature's Economic Development Committee since early April.
Wampanoags still awaiting Beacon Hill approval of compact
While a revenue-sharing Mashpee Wampanoag casino compact idles before a legislative committee, two more Massachusetts communities have struck casino host agreements.Since the state has authorized a total of three casinos, if the two signed yesterday are approved by the Gaming Commission, it leaves only one spot left in Massachusetts for the third casino.
While that third spot was meant to go to the Mashpee Wampanoag Tribe, their difficulties with both the State Legislature and the Bureau of Indian Affairs may yet open up the Southeastern Massachusetts territory to a non-tribal commercial bidder.
Early last month John Ribeiro, an anti-casino activist from Winthrop behind the Repeal the Casino Deal group, filed a petition with the attorney general to start the initiative petition process and block casino gambling in Massachusetts. If the ballot question is approved by voters it would essentially gut the 2011 law by making the types of gambling relied on by casinos to lure customers and make money illegal in Massachusetts.
The Sun shines $16 million on Palmer
Mohegan Sun announced Thursday an agreement with the town of Palmer under which the town would receive more than $16 million in annual payments to mitigate the impact of hosting a proposed resort casino. Additional road, sewer and water infrastructure improvements totaling $23 million are part of the agreement.
The $16 million includes fixed payments of $15.2 million and a percentage of gaming revenue equal to 0.25 percent of the first $400 million in revenue, with Mohegan officials saying the guaranteed payment alone exceeds the entire local tax revenue for the town in fiscal 2014. The town would also receive an additional 2 percent from every dollar of gross gaming revenue from the facility above $400 million a year.
Bostonians Hail Caesar at $15 million a year
On Wednesday night, Suffolk Downs and Caesars Entertainment, competing for the eastern Massachusetts casino license with a proposed casino in East Boston, announced an agreement with the city of Revere, committing to annual payments of $15 million once the proposed casino is fully operational, with payment levels tied to the casino's performance.
The agreement also includes up to $16 million in one-time investments in Revere, including capital commitments related to municipal projects such as a new football field and youth center. Suffolk and Caesars on Wednesday announced an accord with the city of Boston that includes $45 million in transportation and roadway improvements in East Boston and Revere. Host agreements and local voter approval of casinos are necessary precursors to winning casino licenses that will be awarded by the Massachusetts Gaming Commission.
Whether the Wampanoags?
Voters in Taunton have signed off on a casino proposed by the Mashpee Wampanoag Tribe. The tribe's redrafted compact with the state, negotiated with Gov. Deval Patrick, has been pending before the Legislature's Economic Development Committee since early April.
Related Content:
No comments:
Post a Comment