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Cahill Will Push Quickie Slot Bill

Massachusetts State Treasurer Timothy Cahill told press that today he will propose a bill to install slot machines in as many as three locations throughout the Bay State. His measure is one that is much more modest than Governor Deval Patrick’s, which would have authorized a trio of glittering and lavish full-scale gambling palaces in Boston, western Massachusetts, and an undetermined location in the southeastern part of the state. Cahill insists that his scaled-down proposal is a much more realistic proposition, and one that will quickly get a sizeable influx of money flowing through state coffers, giving a much-needed boost to the state budget.

Lawmakers will hear the full scope of Cahill’s plan today, and the press will be treated to a more informative speech tomorrow, but we do know that Cahill believes that his plan could roll as much as two hundred forty-four million dollars a year into the state treasury, thanks to a twenty-seven percent tax on slot machine incomes. Furthermore, the state could receive between two and more than three billion dollars almost immediately in licensing fees for operating rights spanning fifteen to twenty years. Patrick’s plan, on the other hand, was only worth nine hundred million dollars at the most.

The downside of Cahill’s plan is that it would not create as many construction or service jobs as big casino resorts. Cahill’s proposition calls for warehouse-style slot parlors, which do not house all the other amenities of a big casino. Patrick in particular has been wary of slot machines without casinos, because he believes that slots alone will not be as much of a tourism draw as a casino with accompanying dining and entertainment attractions.

Back to March 2009 Archive.