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Casino Gaming in Massachusetts: An Economic, Fiscal and Social Analysis Carl Jenkins, CPA/ABV Managing Director, CBIZ T PowerPoint Presentation
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Casino Gaming in Massachusetts: An Economic, Fiscal and Social Analysis Carl Jenkins, CPA/ABV Managing Director, CBIZ Tofias. Background . Commissioned by the Greater Boston Chamber of Commerce and completed in 2008 Examined critical issues including: Demand for casino gaming

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Casino Gaming in Massachusetts:An Economic, Fiscal and Social AnalysisCarl Jenkins, CPA/ABVManaging Director, CBIZ Tofias

background
Background
  • Commissioned by the Greater Boston Chamber of Commerce and completed in 2008
  • Examined critical issues including:
    • Demand for casino gaming
    • Potential gaming revenue
    • Socioeconomic effects
  • Analysis and report are based upon:
    • Public data
    • Casino patronage and expenditure patterns in other states
    • Documented models and methodology
    • Interviews with policymakers and stakeholders
    • Forecasts and projections
economic impact
Economic Impact
  • Revenue will be dependent on the specific circumstances of the particular region and type of development.
  • Origins of Revenue
    • Destination Effect: Drawing visitors from outside the host region. Spending by casino patrons from outside the region increases the aggregate amount of economic activity within the region.
    • Recapture Effect: Residents of the host region will be less likely to engage in gaming activities outside of the region. These individuals will patronize casino gaming within the host region.
    • Substitution Effect: Casino gaming cause a reallocation of expenditures by individuals within the region. The increased expenditures for casino gaming will cause a decrease in expenditures on other forms of consumption or in net savings.
economic impact1
Economic Impact
  • Destination Resort Casinos:
    • Establishments that offer amenities and entertainment options that extend beyond gaming
    • Including luxury hotel, high-end retail shopping and dining, golf courses, sports arenas and convention facilities
  • Analysis assumes the development of three destination casinos in different regions of Massachusetts and does not include the possibility of tribal casinos.
  • Current plans for development now include:
    • Three destination casinos (Category 1)
    • One slot parlor (Category 2)
fiscal impact
Fiscal Impact
  • Basis for Revenue Projections
  • Projected Revenue
    • Market Size: $2.15 billion in gross gaming revenues (GGR)
socioeconomic impact
Socioeconomic Impact
  • Employment Opportunities
  • Social impacts are difficult to quantify as studies are contradictory
    • Potential Social Benefits: increased employment, higher average income
    • Social Costs: infrastructure, added fiscal pressure on surrounding area, housing, schools
    • Disputed Effects: crime, bankruptcy, problem gaming
    • Other
contact information
Contact Information

Carl F. Jenkins, CPA/ABV, CFE, MST

Managing Director, CBIZ Tofias

Forensic, Litigation and Valuation Services Group

  • Direct: (617) 761-0549
  • Email: CJenkins@cbiztofias.com