It’s Time to Move on Sports Gambling
State governments are, by and large, clunky and inefficient bodies known for their slow pace, general indecisiveness, and tendency to study rather than act decisively.
Those are generalities, to be sure, but they’re also truisms.
While most all state legislatures share those qualities, the Bay State’s leadership seems to stand out from the rest. There are many recent examples of this — everything from east-west rail to the education bill currently being debated.
And then, there’s casino gambling, and most recently, sports gambling.
For reasons we’ve never fully understood, this state lost a great many years — at least a decade by most accounts — when it came to legalizing casino gambling.
While legislators were debating the relative merits of gaming — and debating them some more — a host of other states were moving forward with facilities and establishing a solid foundation that has made it more difficult for the casinos now operating in the Bay State to achieve the kinds of revenues that were originally projected.
And now, the Legislature, which has shown a propensity in recent years for letting the voters make some of the most difficult decisions through referendum questions, is repeating, and compounding, its mistake on gaming by dragging its feet on sports gambling.
Legislative leaders have expressed interest in the concept, and some project a vote might — that’s might — come before the end of this legislative session. If and when it is approved, by next July, it will be another six to 12 months before someone can actually place a bet on a sports team in Massachusetts.
By then, the state will have lost tens of millions of dollars in needed tax revenues to Rhode Island, New Hampshire (set to launch its own program), and other states that saw the light and decided to take action.
We’re not sure why our Legislature couldn’t do the same thing. Waiting and watching and learning doesn’t seem to make any sense at this point.
Sports gambling is a fact of life in this country. Legalizing it and taking advantage of the revenues would seem to be a no-brainer, especially given the heightened degree of competition within the gaming industry and the need for the state’s casinos to be able to keep pace with its neighbors on every level.
Indeed, the state’s two resort casinos, Encore Boston and MGM Springfield, while off to decent starts, are both turning in gross gaming revenue (GGR) numbers below what they projected, primarily because of lagging slots revenues.
These casinos need a shot in the arm; they need another arrow in the quiver when it comes to bringing people to the doors and giving them more to do when they arrive.
Sports gambling seems like a very attractive ‘something more.’
It should have happened by now. Maybe it will happen soon. The state’s Legislature has a history of waiting, studying, procrastinating — and losing out on opportunities.
It looks like history is repeating itself on sports gambling, and the state is almost certain to lose out again.