In previous weeks, the Massachusetts legislature has signaled a willingness to explore possible entry into the online gaming market. This entree into the online gambling industry will generate an additional and very healthy stream of revenue for the state and satisfy the needs of its technologically advanced citizenry. The response from the citizenry as well as some consumer and industry groups has been tepid in certain segments, but it is estimated that this move will generate an additional yearly revenue of approximately $175 million according to data from studies on the move.
The reasoning surrounding some senatorial supported has been that this move may entice software companies to relocate to the Bay State. This is according to vocal proponent state senator Jennifer Flanagan when speaking to a large state news organization as she relates the difficulty of keeping up with technological trends in order to retain the locally educated, well regarded technological driven talent pool of Massachusetts.
It has been two years since Massachusetts enabled its first casino to be founded in the state, and this step would make Massachusetts the fourth state to do so. Before Massachusetts’ proposed entry, Nevada, Delaware and New Jersey made similar movements. This initial casino is the first of two more resort facilities that are slated for openings in 2018 and 2019. One being the MGM Springfield followed by Wynn Boston Harbor.
However, The Massachusetts representatives are not solid o the idea based on the revenue alone. The Massachusetts state congressional elements mostly cite the need to retain their technologically and well educated citizenry by adopting technologically advanced methods like online gambling. Additionally, the $175 million dollar annual figure is not etched in stone. This is an estimate based on projections from prominent credit ratings firm insiders basing their estimates on other surrounding states with larger gambling bases, much more gambling infrastructure and gaming experience like New Jersey which has gross gaming revenue of $225 million annually.
These esteemed financial analysts are quick to note that the much larger states of California, New York and Pennsylvania would be a much more decisive victory in terms of legalizing online gambling throughout the US. due to their very large markets, but these online gaming organizations would definitely welcome the entry into smaller markets like Massachusetts also. California has struggled to legalize this gambling style for multiple years without success, and in spite of recent movements toward online gambling legalization in New York, it seems to not be taking hold withing any legislative authority.
So the intended entry of online gaming into these smaller markets are not only occurring because of the potential monetary value however. The interest in these smaller markets are somewhat due to the fact that the trend to legalize online gaming in America has been and still is an uphill battle. So these smaller markets are entered into more because of necessity rather than any other potential quality, and it is hoped that the need to retain talent will make the difference in Massachusetts making the move toward legalizing the online gamine medium.