It seems some casino developers in Maine are getting cold feet.
Black Bear Entertainment LLC campaigned for a $165 million casino in Oxford complete with a hotel, restaurants, conference space and spa. But questions are now being raised about those plans because of referendums on November’s ballot asking Maine voters if they want to allow a casino in Lewiston and a racino in Biddeford.
If those casinos are approved, some have said it wouldn’t make economic sense for the developers of the Oxford Resort Casino to carry out their expansion plans in the future.
We disagree.
Gambling is a multi-billion dollar industry in this country that supports hundreds of casinos nationwide. Director of the Center for Policy Analysis at the University of Massachusetts-Dartmouth Clyde Barrow estimated in 2008 that the total gambling market within a two and half hour radius of Oxford would be about $130 million a year. The center tracks the gambling industry in the Northeast.
If the Oxford casino developers do not think $130 million can be spread throughout a few facilities each year, than their problem is greed, not economic feasibility.
The developers of Biddeford Downs also have the billion dollar industry as incentive to move forward, but they have also been unclear on their plans to pursue a harness racing track/slot machine facility in Biddeford. A spokesman for the group said in July developers are “committed” to moving forward.
The companies lobbied hard in Augusta this spring to have the legislature approve the project rather than send it to voters. Since the item failed in committee, a statewide referendum will be held this fall on the proposal.
Despite reassurances, in a meeting with the Journal Tribune editorial board, before the legislature made a decision this spring, developers would not answer how they planned to proceed should the racino go to a statewide vote.
It is also unclear what kind of draw casinos would be for Maine, since a full-blown casino has not been built here to date.
It seems, though, that the gaming industry is alive and well, and unless Maine gets such a facility in every municipality, the future of gambling is not at stake.
Take Connecticut for example: The state has two resort casinos within 20 miles of each other ”“ Foxwoods and Mohegan Sun.
Throughout the last decade, more than $15 billion was wagered just on video facsimile/ slot machines each year at the two casinos, according to statistics from the Connecticut Department of Consumer Protection Gaming Division.
While casinos pay out a lot of the money back to gamblers and to states ”“ depending on the regulations governing profits ”“ there is plenty of profit to be made from gambling in this country, and in New England.
Developers in Maine should stick to their commitments ”“ provided their proposals are approved ”“ because they clearly stand to gain the most.
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Questions? Comments? Contact Managing Editor Kristen Schulze Muszynski by calling 282-1535, Ext. 322, or via e-mail at kristenm@journaltribune.com.
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