MASS

The addition of the casino repeal vote to the November ballot may seem simple – casinos or no casinos.  But the decision could impact many people. The State Judicial Court said yes to the addition of the ballot, but the “what if” after the vote is counted is open-ended.

If the repeal of the casino expansion law of 2011 goes through, the projects that have been in the planning for years could have the following impacts:

1)  Will the casino representatives recoup any of the millions of of application and license fees?  If so, will it be from the state, making taxpayers cough up the owed money?  So, that means the repeal could cost the taxpayers of Massachusetts instead of bring in revenue.

2) Will Massachusetts be able to weasel out of third party contracts, many of which – employees, contractors, local construction industries, and vendors – are residents of the Bay State?  Two years of local construction in cities that need the economic help and the families that live there employed by these casino projects will certainly miss out on the financial lift.

State & Local budgets are about to be turned upside down if the casino law is repealed.

So, it seems that, if Massachusetts will eventually have to pay for the millions of fees, and take away the future revenue of its perspective employed residents, the self-righteous groups of repeal should think twice about their needed effort.  The casino industry won’t go away without a court battle that will cost the state more $$.

The real lose-lose situation Mass finds itself in is due to over-zealous pro-casino politicians looking for an easy financial fix and their now overly-emotional conservative anti-casino opponents.

Do I have the answer?…don’t make me laugh…..this mess was was carefully planned by the Massachusetts Gaming Comission wasn’t it?

That’s all for now.

Binbin

 

 

 

 

 

The outcome of the election could have serious implications for numerous gaming stakeholders in Massachusetts.  If the electorate approves the initiative and repeals the 2011 gaming law, gaming license applicants and recipients — many of whom have already expended millions of dollars on application fees or license fees (or both), and have incurred additional expenses to submit their applications and to plan construction — will find themselves unable to proceed with casino and slot parlor projects that have been many years in the making.

Whether any of the incurred expenses may be recouped, either from the state or from private counterparties, is an issue the SJC’s decision leaves open.  There is also the question whether they would be able to unwind, without liability, already-assumed contractual obligations to third parties—e.g., contractors, employees, vendors — whose services might no longer be needed. Further litigation may well be required to resolve these issues.

Government at both the state and local level will also be affected if the ballot initiative is successful.  The state’s budget process, as well as those undertaken by local governments in planned or prospective host communities, anticipate the receipt of significant tax revenue from licensed gaming facilities.  If the voters decide to repeal the gaming law and to block those facilities from being established, state and local government budgets will need to be significantly reworked.

In light of these potential ramifications, there is no question that opponents of the initiative — including gaming license applicants and recipients, their investors, and planned or prospective host communities — will expend significant time, effort, and money in an all-out effort to persuade the voters to reject the initiative.  The proponents of the initiative will push just as hard for passage.  These next several months will be interesting indeed.  Whether they will be “interesting” in the ugly-baby sense of interesting all depends on one’s perspective.

– See more at: http://www.goodwingaming.com/court-ruling-puts-massachusetts-casinos-at-risk#sthash.Df2IKB3u.dpuf

The outcome of the election could have serious implications for numerous gaming stakeholders in Massachusetts.  If the electorate approves the initiative and repeals the 2011 gaming law, gaming license applicants and recipients — many of whom have already expended millions of dollars on application fees or license fees (or both), and have incurred additional expenses to submit their applications and to plan construction — will find themselves unable to proceed with casino and slot parlor projects that have been many years in the making.

Whether any of the incurred expenses may be recouped, either from the state or from private counterparties, is an issue the SJC’s decision leaves open.  There is also the question whether they would be able to unwind, without liability, already-assumed contractual obligations to third parties—e.g., contractors, employees, vendors — whose services might no longer be needed. Further litigation may well be required to resolve these issues.

Government at both the state and local level will also be affected if the ballot initiative is successful.  The state’s budget process, as well as those undertaken by local governments in planned or prospective host communities, anticipate the receipt of significant tax revenue from licensed gaming facilities.  If the voters decide to repeal the gaming law and to block those facilities from being established, state and local government budgets will need to be significantly reworked.

In light of these potential ramifications, there is no question that opponents of the initiative — including gaming license applicants and recipients, their investors, and planned or prospective host communities — will expend significant time, effort, and money in an all-out effort to persuade the voters to reject the initiative.  The proponents of the initiative will push just as hard for passage.  These next several months will be interesting indeed.  Whether they will be “interesting” in the ugly-baby sense of interesting all depends on one’s perspective.

– See more at: http://www.goodwingaming.com/court-ruling-puts-massachusetts-casinos-at-risk#sthash.Df2IKB3u.dpuf

The outcome of the election could have serious implications for numerous gaming stakeholders in Massachusetts.  If the electorate approves the initiative and repeals the 2011 gaming law, gaming license applicants and recipients — many of whom have already expended millions of dollars on application fees or license fees (or both), and have incurred additional expenses to submit their applications and to plan construction — will find themselves unable to proceed with casino and slot parlor projects that have been many years in the making.

Whether any of the incurred expenses may be recouped, either from the state or from private counterparties, is an issue the SJC’s decision leaves open.  There is also the question whether they would be able to unwind, without liability, already-assumed contractual obligations to third parties—e.g., contractors, employees, vendors — whose services might no longer be needed. Further litigation may well be required to resolve these issues.

Government at both the state and local level will also be affected if the ballot initiative is successful.  The state’s budget process, as well as those undertaken by local governments in planned or prospective host communities, anticipate the receipt of significant tax revenue from licensed gaming facilities.  If the voters decide to repeal the gaming law and to block those facilities from being established, state and local government budgets will need to be significantly reworked.

In light of these potential ramifications, there is no question that opponents of the initiative — including gaming license applicants and recipients, their investors, and planned or prospective host communities — will expend significant time, effort, and money in an all-out effort to persuade the voters to reject the initiative.  The proponents of the initiative will push just as hard for passage.  These next several months will be interesting indeed.  Whether they will be “interesting” in the ugly-baby sense of interesting all depends on one’s perspective.

– See more at: http://www.goodwingaming.com/court-ruling-puts-massachusetts-casinos-at-risk#sthash.Df2IKB3u.dpuf

The outcome of the election could have serious implications for numerous gaming stakeholders in Massachusetts.  If the electorate approves the initiative and repeals the 2011 gaming law, gaming license applicants and recipients — many of whom have already expended millions of dollars on application fees or license fees (or both), and have incurred additional expenses to submit their applications and to plan construction — will find themselves unable to proceed with casino and slot parlor projects that have been many years in the making.

Whether any of the incurred expenses may be recouped, either from the state or from private counterparties, is an issue the SJC’s decision leaves open.  There is also the question whether they would be able to unwind, without liability, already-assumed contractual obligations to third parties—e.g., contractors, employees, vendors — whose services might no longer be needed. Further litigation may well be required to resolve these issues.

Government at both the state and local level will also be affected if the ballot initiative is successful.  The state’s budget process, as well as those undertaken by local governments in planned or prospective host communities, anticipate the receipt of significant tax revenue from licensed gaming facilities.  If the voters decide to repeal the gaming law and to block those facilities from being established, state and local government budgets will need to be significantly reworked.

In light of these potential ramifications, there is no question that opponents of the initiative — including gaming license applicants and recipients, their investors, and planned or prospective host communities — will expend significant time, effort, and money in an all-out effort to persuade the voters to reject the initiative.  The proponents of the initiative will push just as hard for passage.  These next several months will be interesting indeed.  Whether they will be “interesting” in the ugly-baby sense of interesting all depends on one’s perspective.

– See more at: http://www.goodwingaming.com/court-ruling-puts-massachusetts-casinos-at-risk#sthash.Df2IKB3u.dpuf

The outcome of the election could have serious implications for numerous gaming stakeholders in Massachusetts.  If the electorate approves the initiative and repeals the 2011 gaming law, gaming license applicants and recipients — many of whom have already expended millions of dollars on application fees or license fees (or both), and have incurred additional expenses to submit their applications and to plan construction — will find themselves unable to proceed with casino and slot parlor projects that have been many years in the making.

Whether any of the incurred expenses may be recouped, either from the state or from private counterparties, is an issue the SJC’s decision leaves open.  There is also the question whether they would be able to unwind, without liability, already-assumed contractual obligations to third parties—e.g., contractors, employees, vendors — whose services might no longer be needed. Further litigation may well be required to resolve these issues.

Government at both the state and local level will also be affected if the ballot initiative is successful.  The state’s budget process, as well as those undertaken by local governments in planned or prospective host communities, anticipate the receipt of significant tax revenue from licensed gaming facilities.  If the voters decide to repeal the gaming law and to block those facilities from being established, state and local government budgets will need to be significantly reworked.

In light of these potential ramifications, there is no question that opponents of the initiative — including gaming license applicants and recipients, their investors, and planned or prospective host communities — will expend significant time, effort, and money in an all-out effort to persuade the voters to reject the initiative.  The proponents of the initiative will push just as hard for passage.  These next several months will be interesting indeed.  Whether they will be “interesting” in the ugly-baby sense of interesting all depends on one’s perspective.

– See more at: http://www.goodwingaming.com/court-ruling-puts-massachusetts-casinos-at-risk#sthash.Df2IKB3u.dpuf

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