Now that tax money from Massachusetts casinos are starting to roll in in fairly substantial amounts, the Massachusetts Gaming Commission is soliciting ideas from towns and regional organizations for ideas on how to apply those funds regionally and to local projects.
By law the casinos pay the state 25 percent of revenues. It is estimated that a large casino, such as the MGM Grand, which will open next year, or the immense Wynn Boston Harbor, which will open the next year, can easily generate $300 million a year. By law 9.5 percent of that could be used for economic development, with lawmakers to determine which projects will be funded.
Recently Commissioner Bruce Stebbins sent lets to local municipalities and organizations suggesting that their form consortiums and partnerships, rather than individually compete.
These project ideas would be bundled together and sent to the Bay State’s lawmakers to possibly be considered for funding not only from gaming revenues but other funding sources.
Rep. Betty Poirier told Focus Gaming News “Even with the small casino we have now, the revenues have been good and they’ve been very generous.”
