With a tally of 11 to 0 the City Council of Revere, Massachusetts voted in favor of allowing the proposed $1B resort and casino racetrack to go forward at Suffolk Downs. According to Boston.com, the council members cited millions of dollars in gambling revenues, along with new job opportunities and much needed traffic improvements as their reason for the approval. The post went on to share Ward One Councilor Richard A Penta’s words, “The bottom line is dollars. I’m all in,” as well as Councilor at large Jessica Ann Gannino’s explanation, “It’s a solid agreement. It’s written very well. It’s up to all of us to figure out the pros and cons.”

New Developments in Revere

The agreement comes after the information as released back in August of just how much this proposal could mean for Boston and its surrounding cities. An estimated $32M per year in revenues would come into Boston alone, with at least four thousand new jobs. The city would also receive a $33.4M upfront payment under an agreement which was signed in August by Boston Mayor Thomas M Menino.  If the casino is exceptionally profitable, the Boston Globe explains that the benefits of the deal could go up to at least $52M for the city each year, with the resort grossing as much as a billion annually.

For Revere, the proposal could bring in as much as $30M in traffic improvements for both state and local roads. The agreement also requires that the casino and resort buys $7.5M worth of goods and services from Revere each year, and gives at least ten percent of its new jobs to Revere residents.

Are you ready for Casino Business?

Suffolk Downs has asked both Revere and Boston to schedule their casino referendum votes on the 5th of November, which is the same day as Boston’s mayoral election. Unless the project is endorsed by a host community at a referendum, Suffolk Downs and Caesars Entertainment cannot win the license, under Massachusetts law. Since Suffolk Downs sits right on the line between Boston and Revere, both communities will take part in the vote. There must be a 60 to 90 day campaign before the vote, also according to Massachusetts law. Mayors from both cities have already signed agreements with the track which outline the terms that must be met for each of them. Other competitors for the license include Wynn Resorts, who has proposed to build in Everett, and Foxwoods, who wishes to build in Milford. Although Foxwoods is not expected to win their referendum vote until later this fall, Wynn has already won their vote. Anyone who may be considering doing business with the casino should contact Lawyer Deborah Gold-Alexander.

As many New England citizens are aware, casinos are coming to Massachusetts very soon. According to a report from the Boston Globe, however, opening one is not as simple as one would think. The Globe likened the Massachusetts casino licensing sweepstakes to a “very busy craps table” with a lot of confusion thrown in. New England Cable News explains that a “host community agreement” is just one of the many requirements that would be needed before the application deadline on October 4, and the Plainridge Racecourse slots parlor has already obtained that key boost. While new plans for lots parlors are being made in Leominster and Millbury, others may be wondering about placing casinos in Revere.

There are many key points that the gaming commission will be using to decide who they deem fit to hold a casino license in the state. For those looking to open a gambling casino in Revere, a good Revere attorney could help to reach these key objectives in time.

A Revere Attorney for Casino Forms

• Financial strength of the bidder – a good Revere lawyer can go over your financial records with you and show you areas that may need work.
• Local traffic and impact mitigation – Finding a location which would have the largest positive impact on the community without disturbing the environment is vital. A good Revere real estate attorney will be key in finding you the best location for your plans for a casino in Revere. Factors such as the design of the casino building, the materials it is built from,  and its architecture will all be considered by the gaming commission.
• How it helps the community – Included in the factors for positive impact to the community would be, of course, how much profit margin there would be. Other factors will include the number of jobs created by the proposed casino, and how much traffic it could bring to the town.

Complex Forms to work with Casino’s

The mayor of Revere, Dan Rizzo, explained to the Boston Globe that casino jobs are a major lure for the town. He stated that an agreement for the proposed Suffolk Downs casino would be a significant boost to the town’s economy. Good for a total of 15 years, the agreement between the town and the developers of the horse race track would have a “widespread economic impact on the city.” The $1 billion project would bring both financial payments and job opportunities which the mayor feels would be “transformational,” adding, “I really do believe the jobs alone could cut our unemployment rate in half.” (Boston Globe) However, the countdown until the application deadline is fast approaching for Revere casinos, and the process to obtain one is very complicated. Allow this Revere lawyer to look over yours, and help gather any needed information before the time is up.