Casino license delay could prove costly for Boston

A delay in issuing a casino license for the Boston, Massachusetts, area could have a short-term impact on the Commonwealth’s finances, whether the delay be caused by an investigation of the Everett real estate holdings or by an environmental impact study in Revere.
The state’s budget for the fiscal year ending on June 30 anticipated $195 million in casino-related licensing fees. That would include $25 million, already paid by Penn National Gaming Inc. (PENN) for a slots license at the Plainridge harness track, and $85 million for each or the casino licenses.
Already the Massachusetts Gaming Commission has warned that the recent dispute involving “host community” status for Boston has delayed the awarding of a Boston-area license until August or later.
Ray Poirier is the longtime executive editor at GamingToday.