Talk about fuzzy math.

In looking over Gov. Devalue's casino numbers from today's Boston Globe, you would think he needs some remedial education.

"Patrick estimates that three casinos would produce $2 billion in economic activity," Yes, 2 billion sounds about the amount of money the 3 casinos will take away from other economic activity in the state. A net sum of... ZERO.

Of course, you will be adding (hack) jobs at the new gaming commission and therapists and couselors at the new gambling treatment centers. That is economic activity, isn't it? "including $400 million a year for state coffers" but wait...

"agree to pay at least 27 percent of their gross annual revenues to the state, or $100 million a year, whichever is larger"

If I was the CFO at any of these new casinos, I would make sure our net profit came awefully close to $100 million every year. Extra bonuses for all investors!!! Let's see with some creative casino accounting methods, 3 casinos times $100 million per year... = $300 million.

Is that right? Where is the $400 million? Did Devalue lose $100 million? Of course he is betting on the 27% giving more than $100 million each... on a good year, not indexed for inflation or the well running dry from casinos opening up in New Hampshire or from all those poor & middle class people exhausting their entire assets. How about a tribal casino sucking the life out of all the others with nothing going to the state? Oh... what major airline is going to fly into Worcester to bring tourists wanting to gamble in Palmer? Must I go on? Bidding by casino developers for the three 10-year licenses would produce a combined $600 million to $900 million for the state, according to Patrick's projections. and...

"Prospective bidders would be required to pay $350,000 to have their casino license applications reviewed. In addition, for their application even to be considered, bidders would have to offer the state a minimum licensing fee of $200 million..." More math. 3 times $350,000 = $1.05 million plus 3 times $200 million = $601.05 million over 10 years. How does he get up "to" $900 million? Maybe he is talking $900 million over 10 years or $90 million per year. Is that included in the $400 million?

Just a mathematical analysis.

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