New Bedford Casino Proposal Good – For Now

Could Circumstances Eventually Bring No Casino to Region C?

Developers proposing a Foxwoods casino for the city’s waterfront have met a critical deadline set by gambling regulators, according to the Massachusetts Gaming Commission.

NewBedfordcasinorenderingarchitectsllpA

Proposed New Bedford Waterfront

KG Urban Enterprises submitted the requested documents by Tuesday’s deadline as it seeks to win the state’s third and final resort casino license. Wynn and MGM hold the other two licenses while Plainridge Park Casino, a slots-only facility, opens June 24th, only 13 days away.

The commission will be reviewing the documents as part of the process before being released publicly.

The New Bedford proposal, which city residents will vote on June 23, will be discussed at the commission’s Thursday meeting.

Proposed Brockton Casino Look

Proposed Brockton Casino Look

So, it is still  a two horse race for the Region C license as far as we know.  KG Urban, of New York, is competing with Mass Gaming & Entertainment for a casino license reserved for the state’s southeastern region. Mass Gaming & Entertainment proposes a resort for the fairgrounds in Brockton, Massachusetts.

That’s all for now.

Binbin

Somerset Casino Not Looking Like a Good Bet

Mass.Gaming Districts.C_0If this was a horse race, you could say Brockton is closing in on the leader New Bedford and Somerset was fading fast.  Somerset may not be able to close in at all after it’s latest set back. This three horse race just turned into two!

Quite the momentum swing last Monday –

  • New Bedford gets a rich new investor, and a new leader in management with Scott Butera
  • Brockton gets ready for a city vote after meeting its deadline for filing license application materials
  • And Somerset casino backers lose their equity partner, saying that they had “kind of pulled out at the last minute.”

According to Mike Lawrence of SouthCoastToday, “KG Urban had asked for an extension of the financial deadline in January, as well. So did Somerset on the Move and Crossroads groups, which then merged to back the current Somerset proposal as Crossroads Massachusetts. For KG Urban and New Bedford, it appears the extra time was enough. For Crossroads and Somerset, it wasn’t.”

Brocton still appears to be in New Bedford’s rear-view mirror.  Steven T. Snyder, GLPI’s senior vice president of corporate development, expressed confidence in the New Bedford site in a letter to the Gaming Commission.  If chosen and all goes along their plan, KG Urban could end up with the best resort/casino of three – including MGM and Everett. Remember, Plainridge Park, the fourth Mas casino is a slots only casino.

NewBedfordcasinorenderingarchitectsllpA“With its glass casino on the wharf boasting 180-degree views of the harbor and its proximity to New Bedford’s commercial fishing fleet, the Buzzards Bay hurricane barrier, State Pier, Cape Cod, Martha’s Vineyard and Nantucket, KG’s Cannon Street property will create a gaming and resort experience unique not only to the commonwealth, but in the entire country,” Snyder wrote. “And one that only New England can possibly offer.”

And, I think he’s right.  Uniquely New England – sounds good to me!

That’s all for now.

Binbin