Allowing New Casinos to be Built
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1. What are the pros (3)and cons (3) of allowing a Casino to be built in a State in the US that has not previously allowed casinos (ie: Massachusetts)? Please explain each.
2. You have the opportunity to be on the Casino Planning Committee for your community. What are the 3 points that you would emphasize that would have a positive impact on your community from having the Casino in your back yard and what would be the 3 negative points that could have a negative impact on your community. Explain each, and on the negative impacts, what would you have the casino management do to mitigate these?
3. As a casino manager, what would be your top 5 priorities in running the business successfully? Explain each.
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Solution Summary
The expert determines who allows a new casino to e built.
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1. What are the pros (3) and cons (3) of allowing a Casino to be built in a State in the US that has not previously allowed casinos (ie: Massachusetts)? Please explain each.
The pros for a casino are increased revenue for the state, cities and municipalities, no need to increase property taxes and new jobs. Since the lottery was introduced in Massachusetts in 1971, the lottery has generated more than $15.3 billion and more than $3.5 billion in the last 4 years. The lottery will continue to generate the same level of revenue when the casinos are up and running. The new revenue can be used to fund education, infrastructure and public safety, instead of increasing property taxes (The information was obtained at http://www.boston.com/news/globe/editorial_opinion/oped/articles/2007/09/18/massachusetts_fortune_is_with_gaming/ "Massachusetts' fortune is with gaming" Timothy Cahill September 18, 2007). Another pro is that casinos have promised thousands of jobs. MGM states that the Rolling Hills Resort in Brimfield will create 3,000 permanent jobs (The information was obtained at http://www.nytimes.com/2012/02/26/us/new-law-in-massachusetts-allows-for-three-casinos.html?pagewanted=all&_r=0 "New Massachusetts Law Allows for Building 3 Casinos" Abby Goodnough February 25, 2012). The Caesars casino in Boston will create 2,500 construction jobs and 4,000 resort jobs (The information was obtained at http://www.bizjournals.com/boston/real_estate/2012/08/suffolk-downs-first-to-file-for-casino.html "Caesars puts cash down on Suffolk Downs" Thomas Grillo August 10, 2012). Wynn Resorts will build a casino near Mystic River. The number of jobs for the Wynn Resorts are not known at this time (The information was obtained at http://www.hotel-online.com/News/PR2012_4th/Nov12_WynnEverettMA.html "Recent Heightened Interest in Everett Raises Prospect of a Bidding War for the Location as well as the Eastern Massachusetts Gaming License" Hillary Chabot November 27, 2012).
Lower property taxes were promised by Governor Duval. He promised that the three proposed casinos would generate $400 to $450 million in new taxes annually. Half of the new revenue will be dedicated to property tax relief for individual homeowners (The information was obtained at http://taxfoundation.org/blog/property-taxes-and-gambling-uneconomical-alliance "Property Taxes and Gambling: An Uneconomical Alliance" Curtis Dubay September 18, 2007).
The cons for a casino are family problems, gambling ...
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