A north country writer made the case today, in the Union Leader, that the opening of a new Casino in Springfield, Massachusetts is proof that the casino market is not oversaturated in New England.
I spoke with someone who has lived most of their life around Springfield with deep ties to the community. The local buzz down there is that even the casino operators think New England is probably oversaturated.
So it is proof of something, but not what the writer suggests.
To the Editor: Later this month, the new MGM casino in Springfield, Mass., will open to much fanfare. It will stand as a reason why New Hampshire needs casinos.
Its initial projections are that this casino will drain $26 million off the New Hampshire economy, followed by $7 million from Vermont.
All this money is going down to Massachusetts. So much for the argument in Concord that the market for casinos in New Hampshire is oversaturated.
– STEVEN J. CONNOLLY, Bethlehem- – years
Not so fast, sir. Estimates are good for nothing unless they sell your story. But there’s another story you need to hear first.
The New Casino in Springfield is a “tiny affair” by comparison. The developers chose not to attach the huge hotel that typically comes with a new casino footprint. It’s only got 250 rooms. Why?
Fear of saturation.
The townies think that within 3-5 years, the operator may want to pull out and cut their losses, meaning take their winnings and go before they become losers. They are not all-in, so to speak.
Because the casino money people think the market may already be saturated. So, Springfield is not an example of why the Granite State needs casino’s it is another warning to stay the hell away from them.
Not that New Hampshire needs one.
New Hampshire’s tourism business has been growing for years without a casino, bringing in as much as 1.5 billion dollars annually. Most of it to the North Country.
And lest we forget, we have a resort boondoggle trudging along up there now. It’s called the Balsams Resort if I recall. It is progressing slowly and not setting any records for development or much else. But it’s there.
Will, it even be up and running in 3-5 years?
Will it deliver on a fraction of its promises? Jobs, revenue, economic rainbows complete with tax coffer filling unicorns?
I guess we’ve several things to look forward too not the least of which is another reason to NOT build a casino in New Hampshire.
