MGM Springfield Provides MassGaming with Details on Casino Project Modifications

MGM Springfield Provides MassGaming with Details on Casino Project Modifications

Officials for MGM Springfield introduced on the Massachusetts Gaming Commission with details about the proposed changes to the $950-million hotel and casino resort the gambling operator is building in downtown Springfield thursday.

The stated customizations consist of the replacement of a 25-story glass resort tower having a 6-story structure and a 9% decrease in the project’s overall footage that is square. MGM Springfield officials told MassGaming Chairman Steve Crosby as well as the four commissioners that if authorized, the said changes would boost effectiveness, meet client demands, and remove space that is unnecessary.

Seth Stratton, Vice President kitty bingo software and General Counsel of MGM Springfield, also supplied state gambling officials with more information regarding the $150-million increase in costs. Based on the initial plan, the construction regarding the MGM Springfield casino resort might have cost $800 million. After the design changes along with other matters that are related the gambling operator is now expected to spend an approximate of $950 million.

Mr. Stratton explained that the expense consist of $614 million for construction and furnishings, and more than $335 million for various land improvements, license and application charges, host community agreements, and a whole lot more.

Through the Thursday conference, Commissioner Enrique Zuniga stated that the rise in costs had been a severe matter and that he expected more comprehensive information about this. (more…)

Florida Governor Signs $3-Billion Seminole Tribe Gaming Compact

Florida Governor Signs $3-Billion Seminole Tribe Gaming Compact

Late on Monday, Florida Gov. Rick Scott ultimately finalized a 20-year gambling lightweight using the Seminole Tribe that will change the 5-year one that expired on July 31. The announcement concerning the agreement came after months of negotiations between the parties that are interested.

Beneath the terms of the latest compact, the Seminole Tribe and its seven gambling venues across Florida would add very nearly $3 billion to your state’s coffers inside the first seven years. In exchange, the tribe would be granted the exclusive right to feature blackjack and to add roulette and craps at its properties.

The agreement that is new allows their state Legislature to begin discussing the addition of slot parlors at existing pari-mutuel organizations in Palm Beach and Miami-Dade counties. In addition, under the regards to the brand new deal, South Florida racinos could be provided the opportunity to request votes on if they should be permitted to feature limited blackjack tables.

Gov. Scott stated in a Monday letter to Senate President Andy Gardiner and home Speaker Steve Crisafulli that the additional revenue starspins vouchers of $3 billion therefore the limit regarding the gambling choices made available from the tribes can place the foundations of a ‘stable and gambling that is predictable’ within Florida’s edges.

Being signed by Gov. Scott, ensures that the agreement will have to be now supported by the House plus the Senate. (more…)