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Massachusetts treasurer wants slot parlors

BOSTON, Massachusetts -- As reported by the Boston Herald: "Treasurer Timothy Cahill said today that Massachusetts should license three slot parlors to give the financially ailing state a boost of gambling revenue.

"The treasurer estimated Massachusetts could generate $2 billion to $3 billion in up-front licensing fees, plus up to $250 million annually in tax revenues if 9,000 machines were allowed. The take would fall to $200 million annually if the number were cut to 7,500 machines.

"In either case, the revenue would offset sagging sales at the Massachusetts Lottery, which Cahill oversees, and tax collections that have left the state facing a $1.1 billion deficit this year and $3.5 billion in cuts for the budget being debated for next year.

"...Cahill outlined his idea before testifying about the state's financial condition at a legislative hearing. Gov. Deval Patrick, who also addressed the hearing, said he welcomed the idea but had considered it before proposing three resort-style casinos. That plan was defeated last year by then-House Speaker Salvatore DiMasi..."

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