"Gambling commission may reach out to Wall Street" by Mark Arsenault | Globe Staff, July 11, 2012
The state gambling commission may seek to increase competetion (sic) for state casino licenses by reaching out to Wall Street investors and encouraging them to provide the capital for casino companies to make bids in Massachusetts.
Attracting capital would be an evenhanded way to help potential casino developers, who each must raise more than $500 million to bid for casino development rights in the Bay State, said Stephen Crosby, who chairs the Massachusetts Gaming Commission. Easier access to capital could attract more casino developers to the state, he said.
“It’s selling Massachusetts as a place to invest,” Crosby said in an interview following Tuesday’s commission meeting....
We ALREADY PAY ENOUGH DEBT-SERVING INTEREST PAYMENTS each month.
Crosby said reaching out to Wall Street is a new concept for the commission, he said, and the panel will run the idea by the state treasurer and perhaps other officials before deciding whether to follow through.
I hope someone, somewhere, in the bowels of state government says something.
--more--"
Nah, BAD IDEA!
Also see: Commission launches effort to combat problem gambling
Antismoking laws could hamstring Mass. casinos
PFFFFFFFT!
Yeah, we are going to have politically-correct casinos in Massachusetts!
Think Wall Street is going to invest in that?
(I'm sure they will invent an instrument where they will be able to steal a few dollars)
