Fall River Mayor William Flanagan's goal of opening the state's first casino through an alliance with Foxwoods, announced just yesterday, is bold but potentially perilous, an industry expert said.
"I hope these people know what they're getting themselves into," Boston College professor and gaming expert Richard McGowan said. "I just wonder if they realize what some of the impacts (of a casino) could be. It does hit me that the city is seemingly desperate to get this revenue. Maybe they figure they have nothing to lose."
The goal is particularly lofty because a Fall River casino is on a later Gaming Commission timetable than the proposed Boston-area casinos. The state commission will decide in May if Wynn Resorts or Mohegan Sun will get the Boston license, and isn't expected to decide until November who will get the license in the southeastern region. The city's goal is to secure an option on a site in the next 30 days, hold a referendum by April and sign a host agreement around then, all to be the first Bay State casino to begin developing customer loyalty.
"Being the first ones to open their doors (in Connecticut), Foxwoods was able to develop that loyal, return customer," Flanagan said. "It's going to be done in phases, and I believe, based on the internal dialogue we have had, if we stay on this aggressive timeline, we'll be able to open our doors first."
At a press conference on the proposed $750 million Fall River casino, Foxwoods CEO Scott Butera referenced an axiom from his time on Wall Street — "Time wounds all deals."
"We have a community that really gets what we're talking about," said Butera, who pivoted to Fall River around Christmas after his proposed Milford casino failed to win voter support.
Also on the casino front yesterday, Mohegan Sun announced surrounding community agreements with Cambridge, Chelsea, Lynn, Malden, Medford, Melrose and Salem. The communities will receive a total of $3.75 million to offset the impact of Mohegan's proposed Suffolk Downs casino. Boston and Somerville still don't have deals with Mohegan, and several communities are contesting their exclusion by Wynn to the gaming commission. The commission will decide next month who gets surrounding community status and who doesn't.
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