you know you’ve got trouble.
“Nobody’s ever paid that much for a casino license,” said Clyde Barrow, a casino specialist at the University of Massachusetts at Dartmouth. “I can’t see anybody putting up that kind of money to license a slot parlor. This is really an eye-popper for me.”
The whole article is a litany of embarrassments for Cahill’s misguided proposal to build quickly erected, warehouse-like structures to house a bunch of slot machines, an idea that the Globe rightly calls a “desperation bet.” PA’s slot licenses sold for 7% — that’s right, seven percent — of what Cahill estimated. All of Cahill’s numbers are based on pre-recession numbers that everyone in the industry says are now woefully outdated. And, in other news, federal law apparently bars his proposal to privatize the lottery. Awkward.
And this is the guy who wants to challenge Governor Patrick, either as a Democrat or as an independent? Not with half-baked ideas like this.