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Casino Development in Massachusetts: Projecting Future

Casino Development in Massachusetts: Projecting Future. Drive times for three regions: 2010 report. Moderate Case Scenario: 2008 vs. 2010. Mid-Atlantic market. 2008 report: four core themes . Public policy should be designed to maximize capital investment

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Casino Development in Massachusetts: Projecting Future

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  1. Casino Development in Massachusetts: Projecting Future

  2. Drive times for three regions: 2010 report

  3. Moderate Case Scenario: 2008 vs. 2010

  4. Mid-Atlantic market

  5. 2008 report: four core themes • Public policy should be designed to maximize capital investment • A robust, comprehensive bidding process should be established. • Casino licensure, as envisioned in this legislation, is tantamount to a regional monopoly. • The interests of all stakeholders – from operators and investors, to patrons, small business owners and taxpayers – should be parallel.

  6. Universal truths in gaming • Doesn’t evolve same way twice • Requires significant community commitment • Works best with existing tourism infrastructure • Fosters unrealistic expectations • Regional issue: positive, negative impacts can range far from casinos, host communities

  7. Formula for Success • Effective regulation • Effective public planning • Free-market forces • Realistic expectations

  8. Effective regulation • Instills, maintains confidence of institutional investors, gaming public. • Requires sharp, unwavering focus on integrity. • Works best when implemented in comprehensive, detailed fashion. • Allows for deregulation as industry evolves.

  9. Public sector’s challenge • You can set rules that encourage investment by maximizing the potential return on investment. • You can set rules that protect existing, small businesses. • You can set tax rate at highest possible level. • The problem: You cannot do them all. • The challenge: Establishing priorities.

  10. Key principles • Gaming should be viewed as part of a tourism infrastructure. • Gaming should work in tandem with other businesses – from conventions to sports teams – to attract visitors from outside the region. • Proper planning can ensure that gaming serves as a catalyst for tourism.

  11. Unrealistic Expectations • Gaming can miraculously solve all economic woes. • Government’s job is finished after legalization of casinos. • Existing local population had an automatic edge.

  12. Keep expectations realistic • Anticipate and prepare: • Traffic will increase • Both winners and losers will be created.

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