Mass. to begin accepting casino application fees

BOSTON (AP) -- The panel overseeing the development of a new casino industry in Massachusetts will begin accepting applications from companies vying for the state's coveted casino licenses.

The applications aren't cheap. Companies who submit applications will also be required to provide a non-refundable $400,000 fee.

The high cost of the fee is designed in part to separate serious bidders from speculators.

The fees will be deposited into the gaming control fund to help defray the costs of the Massachusetts Gaming Commission.

Gov. Deval Patrick has formally signed a compact with the Mashpee Wampanoag tribe allowing them exclusive rights to develop a resort casino in southeastern Massachusetts.

The law signed by Patrick last year authorizes the commission to award casino licenses in other geographical regions of the state and a slots parlor license.