February 10, 2012 | Updated 12:00am

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Lawmakers scramble to save casino bill

The odds still look long right now as the end of the legislative session looms on July 31st. But with hundreds of millions in potential revenue at stake, Beacon Hill is mounting a last-ditch effort to pass a gambling bill.

A legislative conference committee is moving closer to a tentative agreement on the rough outlines of a casino bill, with a formal announcement possible by week’s end, according to two industry insiders monitoring the discussions

The budding proposal comes after House and Senate leaders, emerging from a meeting with Gov. Deval Patrick on Monday, pledged to revive the faltering casino effort.

The scramble represents a dramatic reversal of fortune for gambling boosters in Massachusetts, with a casino and slot bill appearing all but a done deal just a few weeks ago after decades of misfires and humiliating defeats.

But sharp differences over what kind of gambling bill should be passed have undermined the process, with House Speaker Robert DeLeo, whose district includes Suffolk Downs, insisting on including racetrack slots despite strong opposition from Senate President Therese Murray and Patrick.

Legislative negotiators are now looking at plan that could include two or three casinos, with one or two slot parlors. One idea for defusing the racetrack slot controversy, in turn, involves restricting them to a set period of time, after which they would sunset, noted one executive.

“My guess is they can get a vote done by Friday,’’ said one suddenly optimistic industry executive

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The odds still look long right now as the end of the legislative session looms on July 31st. But with hundreds of millions in potential revenue at stake, Beacon Hill is mounting a last-ditch effort to pass a gambling bill.

A legislative conference committee is moving closer to a tentative agreement on the rough outlines of a casino bill, with a formal announcement possible by week’s end, according to two industry insiders monitoring the discussions

The budding proposal comes after House and Senate leaders, emerging from a meeting with Gov. Deval Patrick on Monday, pledged to revive the faltering casino effort.

The scramble represents a dramatic reversal of fortune for gambling boosters in Massachusetts, with a casino and slot bill appearing all but a done deal just a few weeks ago after decades of misfires and humiliating defeats.

But sharp differences over what kind of gambling bill should be passed have undermined the process, with House Speaker Robert DeLeo, whose district includes Suffolk Downs, insisting on including racetrack slots despite strong opposition from Senate President Therese Murray and Patrick.

Legislative negotiators are now looking at plan that could include two or three casinos, with one or two slot parlors. One idea for defusing the racetrack slot controversy, in turn, involves restricting them to a set period of time, after which they would sunset, noted one executive.

“My guess is they can get a vote done by Friday,’’ said one suddenly optimistic industry executive

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