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Would-be developer touts local revenue-share at Holyoke casino - Boston Herald

Tuesday, 12 April 2011 14:47 administrator
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Paper City Development Company, a developer hoping to build a casino at the site of a Holyoke country club, has volunteered to share a sliver of its net gaming revenue with surrounding communities, touting the “revenue sharing plan” that would supplement any additional state aid that results from expanded gambling itself.

Under the

agreement, Holyoke would receive 1.25 percent of projected net gaming revenues, which the company estimates would reach $5 million. Other communities would divide another 1.25 percent of projected casino revenue, apportioned by population.

According to Paper City’s estimates, Westfield would receive $1.05 million, Northampton would receive $716,000, West Springfield would receive $707,000, South Hadley would receive $434,000, Easthampton would receive $408,000, Southampton would receive $149,000 and Hadley would receive $118,000.

The developer credits the proposal to Sen. Stephen Brewer (D-Barre) who voted against expanded gambling last session, saying he had concerns about the impact of casinos on surrounding communities.



Source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNEw86Ip0KXKZBc7A3gQ0ZMbPXrs4w&url=http://news.bostonherald.com/news/politics/view/20110412would-be_developer_touts_local_revenue-share_at_holyoke_casino/

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