“No serious economic impact analysis has been done in Massachusetts,” Goodman tells McKim. “More money is going to be sucked out of the local economy.”
But aren’t casinos supposed to be good for the economy?
In fact, the negative effect described by Goodman is so well-known that Glenn Marshall, the disgraced former chairman of the Mashpee Wampanoag tribe, reportedly promised business owners in Middleborough that he would give them money to offset the harm that would be done by the casino the tribe had proposed for that town. (The tribe recently dropped the long-dormant Middleborough scheme in favor of a site in Fall River.)
According to a story by Alice Elwell in the Enterprise of Brockton in September 2007, Marshall had promised local business leaders that he would “help” if the casino harmed restaurants in town. Selectman Wayne Perkins was quoted as saying this would have taken the form of “comp points” — scrip given to casino visitors that could be used at Middleborough businesses, which in turn could trade them in for cash. (The original link seems to be broken, but I wrote about it at the time.)
A casino is a self-contained economic machine that sucks money out of customers who might otherwise spread it around at local businesses, a fact Marshall backhandedly acknowledged in promising “comp points.” It then funnels the cash to high-rolling investors — and, of course, to the state, which is why Beacon Hill is now on the verge of approving this monstrosity.
The Globe’s corporate cousin, the New York Times, editorialized on Monday:
Casinos are a magnet for tainted money and promote addiction, crime and other ills….
The state’s politicians should also stop chasing gamblers. At a time when casino revenue is slumping across the country, it doesn’t even make economic sense. They need to make hard decisions on taxes and spending, and focus on developing stable industries, improving education and working their way to growth. If they keep holding out for a false jackpot, everyone will lose.
The Globe editorial page, by contrast, has been consistently if cautiously pro-casino. Too bad. As the region’s dominant media player, the Globe could exercise some real leadership on this issue.