The proposed MGM Springfield, which threatens the future of Massachusetts’ tribal gaming industry.
The New England casino hands race is about to escalate because of the news that Connecticut Governor Dannel P. Malloy will shortly sign into law a bill that would pave just how for a tribal casino in the north of state along the Massachusetts border.
Over the border, MGM Resorts International recently broke ground on its $800 million Springfield casino project, signifying an era that is new of expansion for Massachusetts.
In the eastern associated with the state, meanwhile, Wynn Resorts Global won a bid year that is last build a five-star, $1.6 billion resort that is placed to be the biggest personal development in the history of Massachusetts, by having a grand opening scheduled for some time in 2017.
The losers within the expensive battle for that license were Connecticut’s Mohegan Sun, which now faces a threat to its highly-leveraged properties from the Springfield project.
MGM has said it expects to derive 1 / 3rd of its customers from Connecticut.
Connecticut has sanctioned two casinos in its southeast since the nineties that are early return for a percentage of the profits. Only the Mohegans and also the Mashantucket Pequots, which operate Foxwoods, are allowed to use casino.
Both, however, had been struck difficult by the global downturn in the economy of 2008 and therefore a […]