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Massachusetts Casinos May Never Break Ground

Massachusetts Casinos May Never Break Ground

The Supreme Judicial Court in Massachusetts ruled on Tuesday that a referendum will be held where voters will have an opportunity to oppose a 2011 law legalizing gambling in the state.

Massachusetts Casinos May Never Break Ground

Gambling Referendum in Massachusetts could see Repeal of 2011 Gambling Law.

The court said that voters in Massachusetts will have the opportunity to choose whether casinos and slots parlor gambling should be allowed or banned.

Opponents to gambling had gathered sufficient support and signatures for the Court to make such a ruling.

The chairman of the anti-casino group, John Ribeiro, who led the campaign to repeal the law, together with his supporters, was extremely happy with the decision of the court.

 
The current law entitled Massachusetts to award three casino licenses with only one having been awarded so far to MGM resorts, who have yet to formally accept the license until the outcome of the repeal. Their license would entitle them to build a casino in Springfield.

Other developers including Mohegan Sun and Wynn Resorts are hoping to be awarded one of the two remaining licenses to build in Eastern Massachusetts.

A decision is expected to be made in August by the gaming commission. The Massachusetts law also allows for a slots parlor license which was won by Penn National Gaming.

Eric Schippers of Penn National Gaming said they would launch an informational campaign before the referendum and was still confident that they would open their doors in June 2015.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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