Massachusetts hopes for triple-casino cash boost

2007-09-18 15:23:11

Officials in Massachusetts have said they are hopeful that developers will pay up to $300 million dollars each for permission to build three casinos.

Governor Deval Patrick has calculated that Massachusetts will be in receipt of more than $600 million within a ten-year period.

The state has said it is looking for eager developers who are willing to pay a lot of money for the right to inaugurate a potential Massachusetts gambling boom.

"These casinos in Massachusetts are going to require huge capital investments, because they will have to compete with the Connecticut casino on the day they open," said Daniel O'Connell, economic development secretary in an interview with the Boston Globe.

A recent survey by the University of Massachusetts found that three in ten adults from the state visit a casino in neighboring Connecticut at least once a year.