It passed the senate but now goes to joint committee to work out differences. Here's the proposed tax structure:
"...Winning bidders will pay a 25 percent tax on gross casino proceeds and 49 percent of the slots parlor's take, bringing the state millions of dollars a year..."
But the devil is in the details.
http://tinyurl.com/63k7n3p
http://www.bostonherald.com/business/general/view/2011_1015bay_state_could_do_bet-termass_casino_taxesmiddle_of_the_pack_mass_casino_taxesmiddle_of_the_pack/
FWMS gives Conn 25% of slot machine revenue but nada on tables. I think Conn in return guarantees no other casinos without MSFW approval. Worst thing will be if Mass awards a license to FWMS or a syndicate that has their involvment.
This will take at least 5 years b4 shovels are in ground. It was proposed 5 years ago and a license would have gone for a billion dollars. Now 10% of that if their lucky.
In ten years there will be at least one in New Hampshire, Maine and Vermont. Rhode Island has pseudo-casinos with state owned VLT
and a 70% rake. That's gonna change.
Plenty of gamblers in New England.
--- In vpFREE@yahoogroups.com, "Rod" <vprod618@...> wrote:
>
> My sources tell me there will be 3 casinos and one racino in Ma.
> Here comes the long awaited competition from FoxSun (I hope) Rod.
>
