MA Casino Developments

^^^^^
Somebody told me this I'm not sure if this is true for the Casinos in CT. But since the Casinos are built on Tribal Land they actually have there own laws that are different from the state. I'm sure bankruptcy law is Federal but I'm curious to see if the bankers foreclose on the casinos. The Indians get their land taken away again.

The Board of Directors for both casinos defintely did not look out for the best interest of their tribe or the shareholders.
 
TheRifleman said:
^^^^^
Somebody told me this I'm not sure if this is true for the Casinos in CT. But since the Casinos are built on Tribal Land they actually have there own laws that are different from the state. I'm sure bankruptcy law is Federal but I'm curious to see if the bankers foreclose on the casinos. The Indians get their land taken away again.

The Board of Directors for both casinos defintely did not look out for the best interest of their tribe or the shareholders.
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Riff -- the Casinos that are built on Tribal land are sovereign territory of the tribes -- they can not go bankrupt and the land is not at risk - there is a separation between revenues of the casino and who gets the payout:
1) state
2) bond holders
3) tribal members

so if the total is cut back because of a lousy economy -- the state gets a haircut (usually state's sign-up for a % of say slots revenue (CT) and perhaps some other revenue stream) and the payout to the tribe may be cut back so that the bond holders get their piece of the pie

Of course the Indians are free to renegotiate the deal if they can -- especially if they are trying to expand the overall destination -- e.g. Foxwoods is planning an up-scale outlet mall

Of course -- none of the above applies if the Indians are just investors in a casino built on land off of the tribal estate -- then the land could be at risk such as in the case of the proposed western Mass casino
 
OMFG. Rofl. My tiny hometown that doesn't even have street lights on many of the streets.

Lakeville casino land would be adjacent to Freetown parcel
By Christopher Nichols
Herald News Staff Reporter
Posted Mar 30, 2012 @ 12:51 AM

LAKEVILLE —

The Wampanoag Tribe of Gay-Head Aquinnah identified on Thursday the 200-acre parcel of land where the tribe would look to develop a resort casino in Lakeville.

The potential site — located immediately to the west of Route 140 between Exits 8 and 9 — is attached to the parcel of land the tribe previously announced as the potential site in Freetown.

“We’re hopeful that this property’s location is something that the town would be interested in pursuing,” Aquinnah Chairwoman Cheryl Andrews-Maltais said.

With this announcement, the selectmen also stated that they are looking at June 2 for the date of the town’s referendum on the future of the casino project. Andrew-Maltais said the tribe plans on holding public forums and assembling more details on the project in the near future, something that Selectman Chair Stephen Olivier said is necessary.

“(June 2) is the date that we need to get all the information together so that everyone can make an educated vote at that time,” said Olivier. “...We’re going to need as much information as possible.”

Freetown officials previously scheduled a referendum on the casino for May 29.

If only one of the two towns supports the casino, Andrews-Maltais said the Aquinnah would still wish to go ahead with the casino project, even though the parcels in each town are connected. In this scenario, the Aquinnah would build the casino as far away as possible from the town that did not support the project.

Andrews-Maltais did not say what would happen if both towns support the casino, but she did say it could potentially turn into a two-town project.
Selectman Derek Maksy supported the idea of working with Freetown.

“We’re all going to get the traffic. We’re all going to get the impact,” Maksy said.

The Aquinnah have also discussed building a casino in Fall River — where they say they have an option to purchase land in that city. They will be meeting with Fall River officials on Friday to release details of their plan.

In Lakeville, Andrews-Maltais said the Aquinnah are ready to invest about $200 million for a resort casino — although the financial backer for this project was not revealed on Thursday. Since the parcel in Lakeville is culturally significant to the Aquinnah, the tribe also has plans to include housing, health clinics, museums and open space in their casino project, Andrews-Maltais said.

The expanded gaming law, which was passed last year, allows for one resort casino in each of three designated regions of Massachusetts: eastern, western and southeastern. A provision in the law gives a federally recognized American Indian tribe exclusive rights until July 31 to negotiate with the governor for the gaming license in the southeastern region.

If a tribe and the state government are unable to negotiate such a deal by the July 31 deadline, then the bidding for the Southeastern Massachusetts casino license will be opened to commercial entities.

The Mashpee Wampanoag Tribe requested to begin negotiating with Gov. Deval Patrick in a March 14 letter, after the Taunton City Council announced June 9 as the city’s referendum.

Read more: http://www.heraldnews.com/news/x144...-be-adjacent-to-Freetown-parcel#ixzz1qbv5J9BQ
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As a tribal casino...... somewhat, although Middleboro made a bit more sense to me.
Though I don't like my casinos in the middle of nowhere. I like the idea of urban casinos much more than deep in the woods...
 
F-Line to Dudley said:
http://www.boston.com/metrodesk/201...CP3ZAPvwtBVAk7Va4FsL/index.html?p1=News_links

*THUD*
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" The Kraft-Wynn decision eliminates an experienced, well-financed competitor to the team hoping to build a casino at East Boston’s Suffolk Downs. But because the Greater Boston casino is expected to be the most lucrative of the licenses the state will auction, there is likely to be interest from other companies."

I'd say Suffolk is now green-lighted and we can expect the wired decision before the end of 2012 with the first Spin of wheel in 2013
 
Good news is we'll either get a casino in East Boston or Menino finally loses his seat trying to ram it through.
 
I just love it how state legislatures across the country think this is such an effortless way to get free money and all they have to do is get the law passed through all the pearl-clutching, then point at 3 preselected sites and--voila!--there's a casino there the next day. It's NEVER that easy. The municipalities always assert themselves when their number gets drawn. I remember vividly what it took to get Foxwoods built when I was growing up in CT during the whole run-up. The Pequots had the legalities on their side with tribal land and threaded that needle through the courts about as perfectly hole-in-one as is humanly possible and it still nearly came down to citizens' militias being organized in the endgame-past-the-endgame. People may not remember, but at same time this was going on there was a months-long standoff between some guy in another area tribe selling tax-free cigarettes on his land by the side of the road and both sides were armed to the teeth with 2nd Amendment solutions sitting on a hair trigger. In the wild west of New London County, CT.

This is not an easy task to pull off.
 
Any proposals for the Seaport?

Any news on the New Bedford casino proposals and the possibility of a casino in Fall River, Palmer, Springfield, and Holyoke?

I was also wondering how come the Aquinnah Wamponoags aren't looking in sites like Swansea, Somerset, Westport, Dighton, Rehoboth but are looking at Lakeville, and Freetown?

I understand that those towns (Swansea, Somerset, Westport, Dighton, and Rehoboth) are all NIMBY nation (Swansea barely passed a plan for a Wal-Mart Supercenter after 5 years of complaining by NIMBYs) so I doubt they'd pass anyway, but it's interesting to think about.
 
There's nothing Ron Paul loves more than telling private land owners what they can and cannot do on their land.
 
TheRifleman said:
This guy is like Ron Paul Delegate.

GO BETON BRUT
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Riff -- Sulfolk was a very very strong bet from the very beginning because of so-far un-endicted House Speaker Bobby deLira (err deLeo)

Now we hear that Revere will hold the necessary referendum in September -- I'm still betting on a Merry Christmas gift for Bobby and Tommy
 
Face it Kraft, Menino always plays to Wynn
By Peter Gelzinis
Wednesday, May 9, 2012 - Updated 1 minute ago

Some years back when Bob Kraft wanted to locate his dream of a football stadium/shopping mall on the South Boston waterfront, Tom Menino sacked Patriot Place like Vince Wilfork [stats] in a Filene’s Basement suit.

Until Monday night, the two men had eyeballed each other — this time from opposite sidelines of a casino dream. Bob Kraft wanted to fill out Patriot Place by having a resort casino located directly across Route 1 in Foxboro.

And our mayor, of course, wanted to see a bit of Vegas take hold between the oil tanks and the horses at Suffolk Downs in East Boston.

Last fall, Kraft appeared to be gaining some yardage when the Las Vegas casino baron Steve Wynn appeared in Kraft’s box at Gillette Stadium.

But he was thrown for a loss Monday night when Foxboro took to the ballot box and turned thumbs down on Bob Kraft’s Vegas dream.

That would appear to leave Tom Menino going in for the score, though he didn’t want to say much of anything yesterday that looked like a gloating victory dance.

“The mayor has always made it clear he believed Suffolk Downs was the best place (in the city) to locate a casino,” said a reserved Dot Joyce, the mayor’s spokesperson.

If, somewhere behind closed doors, Tom Menino was fist-bumping and high-fiving what those casino opponents did in Foxboro on Monday night, Celeste Myers was doing exactly the same thing in East Boston.

She happens to be a prime mover behind the “No Eastie Casino” movement. And she was quite willing to explain how a casino defeat 35 miles away had energized her budding opposition.

“Bob Kraft is the most powerful man in Foxboro,” Celeste said, “and he was not able to get what he wanted. What happened in Foxboro only serves to ramp up our efforts to turn back a casino in this neighborhood.”

Theoretically, it is possible. As of now, the fate of a casino at Suffolk Downs rests entirely with the residents of East Boston.

“I love the mayor, I’ve campaigned for the mayor,” Celeste said, “but he needs to know that we are not going away. He has to worry about us. The Foxboro vote only furthers our commitment to go door-to-door trying to educate people about what we’re facing with a casino landing in here.”

Myers understands the David vs. Goliath situation her “No Eastie Casino” movement is facing. But then again, there is the storied history of Eastie opposition that forced Ed King, then director of Massport, to alter his plans for the expansion of Logan Airport some four decades ago.

“The (Suffolk Downs) owners have been grooming us for years,” Myers said, “they’ve donated to our local charities and back our politicians, but the ultimate price we stand to pay for that goodwill is just too high.”
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I could really see this backfiring on the Mayor. I'm not sure what residents really believe a casino in there backyard is a good thing.

http://www.bostonherald.com/news/columnists/view.bg?articleid=1061130261
 
whighlander said:
Riff -- Sulfolk was a very very strong bet from the very beginning because of so-far un-endicted House Speaker Bobby deLira (err deLeo)

Now we hear that Revere will hold the necessary referendum in September -- I'm still betting on a Merry Christmas gift for Bobby and Tommy
Click to expand...

And people also believe Romney is the Republican nomination........right now
 
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