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In March, 2008, The
Greater Boston Chamber of Commerce released a data and
research-based report that examines the economic, fiscal, and
socio-economic impacts of the casino legislation proposed by
Governor Deval Patrick.
This legislation, filed
in October of 2007, would legalize casino gaming in the Commonwealth
of Massachusetts and allow for the development of up to three large
destination-style casinos in different regions of the state.
The Chamber study,
entitled
Casino Gaming in Massachusetts: An Economic, Fiscal, & Social
Analysis and conducted by UHY Advisors FLVS, Inc., found
that the creation of three destination-style resort casinos would
result in $2 billion to $2.3 billion in annual gross gaming revenue
(GGR) economic activity, netting $376 million to $429 million for
general purpose funds for the Commonwealth. The study also found
that 17,000 to 21,000 permanent jobs and 10,000 to 11,500 one-time
construction jobs would be created. Finally, the study examined the
research on potential socio-economic impacts – negative, positive,
and otherwise – of casino gambling.
The independent,
data-based study does not take a position or make any
recommendations. The Chamber's intention with this report was to
take a fact-based look at the economic and socio-economic impacts of
casino gaming, with the hope that this analysis will serve as an
independent basis for further discussion of this important issue in
the weeks and months ahead.
Key findings of the
report include:
Jobs:
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17,000 – 21,000
permanent jobs
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10,000 – 11,500
construction jobs over a three-year period
Economic Impact:
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Gross gaming revenue
of $2 to 2.3 billion based on current conditions
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Projected GGR of
$2.7 billion in 2012
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$376 – $429 million
in annual net new state revenue in 2012
Societal Impact:
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Potential for
increased rates of problem or pathological gambling, crime, and
personal bankruptcy
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Potential for
individuals’ improved physical & mental health due to increased
employment and employment-based health care
UHY Advisors FLVS, Inc.
(UHY), conducted the study in three phases. First, UHY developed
economic models of the demand for casino gaming and state tax
revenues from ongoing casino operations, based on casino patronage
and expenditure patterns in other New England states. Given the
potential revenues from the casino developments, UHY then developed
projections of job creation and annual gaming tax revenues that
would accrue to the Commonwealth. Second, UHY reviewed research by
academics and government concerning the socioeconomic impact of the
introduction of casino gaming. Third, UHY performed field research
by interviewing policymakers and stakeholders to gather additional
information and perspectives on issues concerning the legalization
of casino gaming.
To read the
report, click on the link below:
Casino Gaming in Massachusetts: An Economic, Fiscal, & Social
Analysis
Press Coverage
Chamber Press Release
Boston Globe - March 6, 2008
Boston Herald - March 6, 2008
WBZ News Radio - March 6, 2008
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