Gambling establishments such as Wynn Resorts are proving to be indispensable to the Massachusetts job market. This is because these establishments are assisting in keeping the community unemployment rate of the state at a nationwide low. Massachusetts now has one of the lowest unemployment rates in the US.
An example of the huge impact the gambling industry is having on employment is with the opening of Wynn’s Boston Harbor casino (worth $2.6 billion). More than 135,000 hopeful people applied to jobs at this establishment alone. This proves that a helping hand was needed if these many candidates are flocking to just one new enterprise (open since 23 June of this year). So far, the casino has generated 5,000 jobs which are more than half of the 9,800 positions that were added in the state in June.
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Over the month of July, the private sector is said to have increased the positions in the job market by 8,400 jobs. This has led to the bettering of other sectors such as Leisure and Hospitality, Education and Health Services, Financial Activities, Information and Trade, Transportation and Utilities, and Manufacturing. This is all according to a report filed by the state Executive Office of Labor and Workforce Development.
These statistics seem to prove the choice by the commonwealth in 2011 to allow casino operation in the state as a positive one. During the time of the vote, people were promised the creation of 15 000 jobs.
Three of the top gambling establishments in the state are at present – Encore Boston Harbor, MGM Springfield, and Plainridge Park Casino (PPC).
Expectations vs. Reality
The first casino to open in the state was PPC (run by Penn National Gaming). They can attest to the creation of 2 500 jobs. The first integrated resort of Massachusetts was MGM Springfield. 2,500 jobs were initially created, but that has since decreased due to an overestimation on their part and a failure to maintain this level of employment.
When it comes to the newest addition to the state’s gambling industry, Encore Boston Harbor is reported to have nearly 6,000 job positions available once the casino is fully up and running. Time will tell if this will remain true. Hopefully, their trend analysis and expected revenue are correct and the state will have up to 6,000 new employment opportunities.
More to Come?
With the low unemployment rate of 3%, this state is in no way struggling but there is always room for improvement. The relatively new gambling sector seems like it’s in a good position to offer aid to the remaining unemployment.
There is talk of another casino opening in Massachusetts, in an area in the Southeast part of the state in a part known a Region C. In 2018, support emerged for table games to make a debut at PPC in an effort to add momentum to the gaming sector which could, in turn, result in even more jobs.
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