February 14, 2008
Oxford County casino would rake it in
A proposed Oxford County casino that voters will decide on in November could generate nearly $100 million a year from slot machines, according to Todd Gabe, a University of Maine economist.
Gabe said the casino, proposed by a Rumford attorney, could bring in anywhere from $89 million to $99.8 million in revenue from slots, more than double what Hollywood Slots in Bangor generated in 2007, according to a press release from the University of Maine. Gabe added, however, that without an idea of who would be the casino's patrons, he could not determine how much of the gambling revenue would come from locals, who would have spent that money locally on other goods and services, or from out-of-towners bringing in new money.
Voters will be asked in a statewide November referendum whether to allow Evergreen Mountain Enterprises to develop the state's first casino in an as-yet undetermined town in Oxford County. Gabe cautioned that his report should be considered along with other non-economic and economic issues, and that it takes no position on the controversial issue of gambling in Maine.
Gabe said the casino, proposed by a Rumford attorney, could bring in anywhere from $89 million to $99.8 million in revenue from slots, more than double what Hollywood Slots in Bangor generated in 2007, according to a press release from the University of Maine. Gabe added, however, that without an idea of who would be the casino's patrons, he could not determine how much of the gambling revenue would come from locals, who would have spent that money locally on other goods and services, or from out-of-towners bringing in new money.
Voters will be asked in a statewide November referendum whether to allow Evergreen Mountain Enterprises to develop the state's first casino in an as-yet undetermined town in Oxford County. Gabe cautioned that his report should be considered along with other non-economic and economic issues, and that it takes no position on the controversial issue of gambling in Maine.
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