Chamber to bet on casinos

Boston Herald
By Thomas Grillo

The Greater Boston Chamber of Commerce is poised to come out in favor of resort casinos in the Bay State.

Paul Guzzi, the chamber’s president, is expected to testify at a marathon public hearing next Thursday when lawmakers consider more than a dozen House and Senate bills that would expand gambling in Massachusetts. The measures include everything from slot machines at race tracks to resort-style casinos.

“We think that, if a series of principles are adhered to, resort casinos can be an important economic development engine for the state,” said Guzzi yesterday. “Whatever the state does on expanded gaming, it should create jobs and should include investment on the part of proposed casino owners.”

The chamber’s position has been closely watched, because until now it has remained neutral on casino gambling. Some of its members, including restaurateurs, oppose casinos because they don’t want to see more competition for dwindling entertainment dollars.

Last year, the chamber released a study by Boston-based UHY Advisors that found that Gov. Deval Patrick’s proposal for destination resort casinos in three regions of the state would generate at least $600 million in licensing fees and $2.3 billion in gambling revenue with as much as $429 million for the state. The study said casinos could create 21,000 permanent jobs.

But the House, under pressure from former Speaker Salvatore DiMasi, defeated the legislation.

“It’s a totally different climate than it was a year ago,” Guzzi said.

Guzzi spoke to the Herald prior to a breakfast meeting, where Harvard President Drew Faust told business leaders that the school is facing enormous financial challenges.

“Our endowment is $11 billion less than it was a year ago,” she said. “We are having to assess what the appropriate pace of our expansion into Allston can be.”