Massachusetts Gambling Stumbles Out of the Gate
The state of Massachusetts, with its insatiable government greed that has caused the state to have the derisive nickname of “Taxachussets” was hoping that gambling would feed its crack addict like addiction to tax payer money to spend on countless government programs. So far those hopes are not being realized and there is a considerable amount of anxiety that gambling is not going to be the panacea that the state was hoping it to be.
Plainridge Park is a prime example of those well founded worries in the Bay State. Plainridge Park was the first casino to open in Massachusetts and yet is now in a recession of business with three consecutive months of declining revenues.
MGM Resorts is also getting cold feet about Massachusetts and is cutting the size of a proposed resort by 14 percent. MGM Resorts has not given a reason for the size reduction but there can be no greater vote of no confidence other than just pulling up stakes and leaving the state altogether.
Steve Wynn was one of the true believers as far as Massachusetts gambling and was planning to do business there but is now entangled in a legal battle with the City of Boston. Boston seems to be going out of its way to disrupt Wynn’s development of a casino and that is not going to go unnoticed by other resort operations and developers.
There is also a fierce battle between the states of Massachusetts and Connecticut as the latter state does not want competition and is looking to open satellite operations in Massachusetts.
