Massachusetts Governor Deval Patrick has signed a new law that will see full-scale commercial casinos opened in the state.

The new gaming law allows for three destination resorts and a slots facility and creates a five-member Gaming Commission. The licence fee for each casino will be at least $85m and capital investment must be $500m, with 25 per cent of gross gaming revenues going to the state.

The slots facility, meanwhile, will hold up to 1,250 machines and will carry a $25m licence. This property will require an investment of at least $125m and the state will receive 40 per cent of gross gaming revenues and a further nine per cent will go to a new Race Horse Development Fund to promote live racing in the state.

Patrick said the “final chapter” in the long debate over expanded gaming had now come to a close.

“I have always believed that if done right, expanded gaming can create jobs, generate new revenue and spur economic growth in every region of the Commonwealth,” he said. “Because of initiatives like this one, Massachusetts continues to lead the nation out of this recession."