Destination Casinos Help To Speed Up The Rate Of Development
In 2011 when casino gambling was legalized by the Legislature and Governor Patrick, a strategy was developed to expand the normal benefits of casinos. The strategy was that instead of focusing on promoting revenue and jobs, in Massachusetts, the casino legislation prescribed “destination resort casinos”, also designed to create broad-based economy development. This strategy was adopted only in Massachusetts, and to be candid, it was kind of a calculated risk. Typically, the developments of casinos across the nation have not led to broad-based development of the economy, although they have often created jobs and provide revenues. The proposal of the casino legislation is an audacious strategy.
It serves as a loud call for more amenities in the gambling establishment; a huge rise in the required minimum capital investment (providing assurance of quality facilities and large construction projects); possibility of integrating with other establishments that drive the economy in the region; and a mid-range tax rate ( 25 percent of the total gaming revenue ). This is to hopefully provide the policy and economic tools to aid broad-based development of the economy.