However, this will be more like a steeple chase race with many obstacles to overcome. There are the procedural steps of choosing a chairman and members of the yet to be formed gaming commission, and developing the regulations and processes for applicants. Each potential developer will have to gain control of a potential site, obtain all local approvals, commit and fund the off-site infrastructure improvements, and show financial wherewithal to complete the development plans. Then there are the public “threats” that already include one local developer’s lawsuit challenging the fairness of the law, the possibility of a ballot initiative to overturn the statute, and the likely local appeals from abutters and other citizen suits.
Welcome to the world of the real estate developer. There are reasons why Massachusetts projects take longer to permit and build.
That being said, there are highly motivated, well-funded, and patient corporations that have already lined up and others that will be announcing their interest over the next few weeks. Let the games begin!
To learn more about this process and the players, don’t miss NAIOP’s January 19th breakfast program, Casino Gambling Coming to the Commonwealth, at the Westin Waterfront Hotel.