“Two guys walk into a New England bar….you’d think the second would have seen it.” Old joke, I know. But it fits as you will see at the end of this post.
There’s an old saying in New England about those of us who have lived her and grown up here all our lives. “We don’t accept friendship easily, but when we do, it’s everlasting.”
It’s true that a stereotype of New Englanders is that we can be disagreeable, tending to be suspicious & cautious until we get to know ya. Trust seems to take more time here in the northeast than other places, but if trust is gained, it’s everlasting. Maybe it’s the tough winters, the three days of spring, the long humid summers, followed by a never-ending falling of leaves, leaves and more leaves.
Fishing in Rhode Island
Whatever is the cause – the weather, the blue-collar history of hard work in textile and fishing industries – when people move here to do business, they need to do their homework to earn our trust.
So in walks two big-wigs from the west. They are convinced that a) no one knows the gaming industry better than them, and b) they are the kings of manipulation, unstoppable, having their own way, no matter what us peasants in New England want. It is an arrogance that has romanticized the Massachusetts Gaming Commission to the point that Steven Crosby and his cronies are willing to give Murren & Wynn carte blanche! Continue reading →
In a surprising change in the Massachusetts Gaming Expansion, the New Bedford waterside casino complex is no more. The developers have forced KG Urban to take their application off the table, and the southeast license, Region C, now only has one suitor in Brockton.
Well, duh, you see, it takes financial backing to build a casino, and when your financial backers pull out, there is no casino to be built. Simple, right?
What it was supposed to look like.
In its letter to the state Gaming Commission, KG Urban, said investors proved unconvinced the venture would work in an increasingly competitive environment. Let me put this in layman’s terms – New England’s casino market is saturated and being hyper-competitive, especially in the eastern part of Massachusetts bordering CT & RI.
In an article I think connected to KG Urban’s investors concerns, Howard Stutz wrote that “Moody’s Investors Service said the casino industry’s cash flow prospects could climb as much as 4 percent over next 12 to 18 months……18 U.S. states with casinos reported a 4.1 percent increase in monthly gaming revenue during May, following a 4 percent increase in April. In May, every state but New Jersey and Connecticut saw improvement. With these numbers in hand, the advisory firm changed its overall outlook of the U.S. gaming industry from a negative to a stable rating.”
You see, gambling is on the rise everywhere – but not necessarily here in New England. Maine is experiencing a lull and decline with it’s two small casinos having run the entire state, New Hampshire, and borders on Canada. The key in the above statement by Moody’s is that the northeast isn’t improving like the rest of the nation – “every state but New Jersey and Connecticut saw improvement.” Rhode Island’s statistics are not reported as in other states, but this area in New England (Eastern CT, RI, Southeast MA) is not destined for such a rise in revenue. The two exceptions in the northeast are New York State and Pennsylvania (which has shown a slight resurgence in the last months after a couple of years in decline.)
By the way, building a big modern casino doesn’t mean people will flock to it and make it their new gambling destination. The proof in the east can be spelled with 5 letters: R-E-V-E-L!
Here are a few facts that changed the New Bedford backers minds:
The Mashpee Wampanoag Tribe is still looking to build casino resort in Taunton.
Mass Gaming & Entertainment, the developers proposing Brockton casinos, are still pledging to remain in the hunt for a casino.
Connecticut and Rhode Island have both discussed the potential of expanding their existing casino industries. And while she was against it all along, it makes sense that Attorney General Maura Healey cautioned the Massachusetts Gaming Commission about the threat of an over-saturated gaming market.
And now a few side rants to get off my chest related to the whole thing:
Stephen Crosby of the Massachusetts Gaming Commission
The Massachusetts Gaming Commission seems so naive to think that this process would be so simple – pick four casinos, build them quickly like Legoland, and take the rest of New England’s money with just a whimper and a white flag from the other states?
One newspaper article I read accused Foxwoods of failing on this deal, which is completely false. Consider Foxwoods a subcontractor for the job – only the job never materialized!
Palmer Casino Proposal
Finally, another jab at the MGC plan. Brockton is similar to Palmer, Mass in economic need and instability. Both are tired old mill towns trying to reinvent itself, like so many towns in New England. Mohegan Sun’s casino proposal in Palmer was denied by the MGC, instead choosing MGM in Springfield. Now Springfield won’t see it happen until late 2018 or even later, while I’m sure the Palmer casino would have already been started and would have been competing and drawing with both New York State and Connecticut, and bringing the state of Massachusetts revenue earlier than 2018.
So far, Massachusetts has a “box of slots” (as MGM Muren calls them) working well to bring in the casino revenue to Massachusetts, and stalled projects all over the state. I end by quoting from the Broadway show “Wicked.” The now famous song “Defying Gravity” begins with Elphaba and Glinda saying to each other “I hope you’re happy – I hope you’re happy, now!”
As I was having breakfast this morning, I was wondering what to post about today. Nothing came to mind….until I checked my news alerts.
The Sky Is Falling On Massachusetts’s Casino Industry!!!
Numerous articles posted and rehashed concerning the destiny of the Massachusetts Gaming Industry – oh the horror, oh the humanity!
Melodrama & hyperbole aside, allow the “Binthsayer” to predict, dispel, and cut to the reality the Massachusetts Gaming Menagerie.
Here we go.
Massachusetts will not have a full slate of casinos until 2018 – True. No extra tricks that Mr. Crosby has up his sleeve won’t change the traffic construction in Springfield and won’t clean up the mess in Everett (both outside and within the Wynn property) to start before then.
Plainridge Park Casino is positive sign. – True, but by 2017, the new flavor in New England will wear off, and it will be a nice little “box of slots” competing with raised competition in CT, RI and ME.
Steve Wynn’s Everett casino project, after facing hurdles of legal suits, Massachusetts gaming “quirks” and toxic waste will pull out of Massachusetts. – False – VERY FALSE!
Wynn, Everett Mass
Look, as much as I despise his arrogance, he is an astute business man and a visionary. He knows the future success that the Boston market will bring. Like it or not, Steve Wynn is here to stay.
The Massachusetts Gaming Commission (MGC) might not back any of the proposals in Region C if they decide the market will become oversaturated. – False. The MGC is drooling over the initial success of Plainridge Park and certainly will want more. They now feel Massachusetts is going to be Casino Mecca in New England. Region C will see a casino in either New Bedford or Brockton.
The Mashpee Wampanoag tribe will eventually establish a casino in Taunton. – The future is murky here. This is the only answer I seek that eludes my crystal casino ball. New BIA recognition changes could nix the Taunton casino all-together.
Aquinnah Wampanoag tribe, will establish a Class II casino in Martha’s Vineyard. – False. It will open a bingo hall, but that’s as far as it goes.
MGM will change and down-scale its Springfield project due to increased CT competition on the border – NOPE.You mean to tell me one of the largest and most successful of Casino Companies in the World is intimidated by another casino in Connecticut? Pshah…..if they make changes to their original design, it will be due to other factors such as historical buildings, the new traffic construction, or simply changes to support current trends.
Will there be a new casino in Connecticut – Yes. But if so, it might open the door to more competition for that site, raising havoc with the tribal slot compact with the state. It might open the door to privatized casino companies vying for that casino, since it would be the first off tribal land.
Will there be new casinos in Maine? – Nope
Will there ever be a casino in New Hampshire? – (chuckle) When pigs fly!
There you are. Now everyone can relax. the Binthsayer has predicted to New England Casino future. Sit back and enjoy the entertaining next two years of the a new soap opera happening before our eyes. Let’s call it “The Old, and the Arrogant”……. or maybe “As the MGC Turns” or “Casino Revenue is a Many Splendored Thing””…….i got it,
“Steve Wynn’s Place!”
The Binthsayer is now tired with so much investigation into the future. Must rest.