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BOSTON (CBS) – On June 16, the Suffolk Downs will see their last horse race. The future of Encore Casino in Everett, which is scheduled to open next week, is much less certain.
And the juxtaposition of these two events gives an idea of the spectacular failure of the state government of Massachusetts to wisely oversee the rollout of casino games here.
In the eight years since its inception through new legislation legalizing casinos, the Massachusetts Gaming Commission (MGC) has set aside a lengthy process that, in the name of cautiousness and care, has missed out. opportunity to take advantage of the casino's boom. before it is eroded by an overabundance of competition:
- Placed the only slot machine room license in an uncomfortable place where the owner struggles;
- Failed to award the casino license of the Southeast region, thereby avoiding an opportunity in Brockton that would have fulfilled a core mandate of casino law, favoring economic development in an impoverished region;
- Thrown a legitimate competitor, Caesars Entertainment, into a remote connection with an unsavory character, while leaning back to reconcile Steve Wynn's interests, despite the fuzzy background of Everett's landowner;
- We chose a casino site in western Massachusetts in Springfield, which presents a myriad of problems, including a downtown location plagued by crime and proximity to Connecticut competition.
- Rejected a respected local ownership group, partner of Suffolk Down, in favor of Wynn's candidacy for Everett;
- Deployed a team of investigators seeking to release his responsibilities, which failed to uncover Wynn's personal and professional irregularities, which were later discovered by two Wall Street Journal journalists.
And now, with the advent of the Everett overture, MGC's late efforts to address its oversight failures have at least posed the threat of a reshuffling of casino ownership across the country. State, which would be chaotic at best.
No wonder Governor Charlie Baker, who inherited the mess but now has his hand-picked ally, answers questions about the debacle by setting a speed record for running in the opposite direction.
It is possible that the speech of Wynn Resorts selling the Encore monolith to Everett to MGM (thus obscuring the future of the installation of Springfield, property of MGM but that he will have to unload to comply with the rule of the only casino of the 'State' is just a discussion. But the industry experts we are talking to are not surprised.
They claim that the MGC's unprecedented demand as part of the decision to let Encore retain its Everett license to compel Wynn to agree to the appointment of an independent supervisor to dictate casino practices for at least the first time. next three years is considered unacceptable. And if they impose the withdrawal of this demand, a condition of openness to Everett, how is it that, politically, the MGC can remain firm?
Make no mistake: when Everett opens, it will be a license to print money for a while. How long depends on a range of factors – including the reaction of regional competitors (in Rhode Island, Connecticut and Springfield) that are likely to be cannibalized by Everett and the eventual appearance of games money online.
Jobs and new revenue generated by Plainridge, Springfield and Everett are welcome, let's be sure. But if you are looking for a classic case of confused and inept government regulation that leads to uncertainty and the loss of opportunities, that's the answer.
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