MGM Bridgeport Casino – All The Angles

“That’s all I can stands, cuz I can’t stands n’more!” – Popeye

Alright, now you did it.  MGM, you even got Popeye all upset with your latest Connecticut propaganda!

When I first started NETimeGambling.com, all I wanted was two things: 1) to supply the latest news and information about New England’s Casinos, and 2) that these seven casinos would behave in a way that would benefit New England Tourism.

After almost five years, I now see it’s all about the almighty dollar, no matter what the economic needs of the residents are.  How naive of me!

And how naive are Bridgeport residents to think that MGM’s prime purpose with this casino mumbo-jumbo is the well-being of Bridgeport. Yes, it will help the jobless plight of the city big-time, while bringing in the usual negative culprits, according to State Senator  Tony Hwang:

  • Property owners see their home values decrease.
  • Communities see increases in crime, traffic, drunk and impaired driving.
  • Local businesses see people spend money in the casino instead of in the local economy.
  • Vulnerable residents — seniors, low-income residents, and the addicted — are enticed by the glitz of the casino and often succumb to their lure.

But you can say that about all casinos with vast differences in those negative effects from casino to casino.  In Plainville, home to Plainridge Park Casino in Massachusetts, the Plainville police report seeing little of the expected increase due to the new casino.

But the scope of this bombshell dropped on CT must be seen from all sides. Let’s look at the whole picture, shall we?

Casino.org says, “Although Connecticut’s two tribal operators believe it’s part of a very elaborate bluff, an artist’s rendering of the proposed MGM Bridgeport casino, which the gaming operator says will bring 2,000 permanent jobs and a tax revenue stream of $316 million per year, has been created and presented to the state’s power brokers. (Image: MGM Resorts International)

Proposal After Proposal

MGM Resorts International’s announced this week plans for a casino and hotel on the banks of the Yellow Mill River. Three decades ago, the Carpenter Technology plant in Bridgeport’s East End shut its doors, costing 600 jobs.  But, MGM has offered plans to build a new casino with 2,000 slot machines, 160 table games, a 700-seat theater, a 300-room hotel, restaurants and retail shops.

This is not a new idea.  Large gaming companies, such as Harrah’s (now Caesars), Mirage Resorts (now MGM), Carnival Hotels & Casinos, Circus Circus Enterprises (now part of MGM), Trump Hotels & Casino Resorts and the Mashantucket Pequots all had letters of intent submitted for expanded gambling in 1995, which was defeated in a lop-sided vote in the legislature.  The Bridgeport casino Steelpointe Harbor location is the same area where President Donald Trump proposed a casino in the 1990s. So what’s different now?

The New Proposal – Murren’s Ties

MGM Resorts CEO Jim Murren, left, with Bridgeport Mayor Joe Ganim (Dan Haar / The Hartford Courant)

Dan Haar of the Hartford Courant quoted CEO of MGM Resorts International Jim Murren as saying “I know Bridgeport’s very historic, important roots and it’s heartbreaking to see what’s happened over the last 60 years.”  Mr. Murren is heartbroken over the dire straits in Bridgeport.  Mr. Haar then goes on to explain Murren’s ties to the area, having been “born here.”  Be careful, reading this article may cause cavities from all the sweet sentiment involved – MGM Bridgeport Casino Solves A Lot Of Problems

Remember how naive anyone, including Bridgeport and the surrounding residents, might act if someone knocked on the door and promised the answer to all their economic woes.  But, if Bridgeport is SO important to MGM and Mr. Murren emotionally, consider this.

The new casino in Springfield Massachusetts that MGM is building gives the city of Springfield a billion-dollar MGM casino, but Bridgeport–with ready access to the New York City, Long Island, and Fairfield/Westchester County markets, is only being offered warrants a half-billion dollar facility. Also, Springfield, as the host city, will receive payments of $25 million a year, and the proposal calls for Bridgeport to be paid only $8 million.  If Jim Murren is altruistically concerned for his hometown’s economy, shouldn’t he be “showing them the money”

Location, Location, Location

Supposedly, Bridgeport is prime property to help the city and state out of budget woes, because it is close to the city that never sleeps – NYC. The Big Apple would be the answer CT is looking for concerning the state’s budget deficit and Bridgeport’s jobless residents.

Seen from the site, the P.T. Barnum ferry returns from Long Island, at distance. (Dan Haar / The Hartford Courant)

FYI – An hour away from Bridgeport there’s Empire City in Yonkers, which gets a lot of advertising and seems to be doing quite well. Then there is Resorts World, which is right within the 5 boroughs in Queens near Aqueduct Raceway and JFK airport. Monticello Hotel & Casino, and Resorts World Catskills (which opens in 2018, months before MGM Springfield) are similar distances to Bridgeport as the CT tribal casinos, which will pose a threat to anything MGM builds in Bridgeport.

Empire City Casino, Yonkers, NY

New York’s new casinos north of NYC still struggle to bring in the traffic they anticipated, and they would be more competition for MGM Springfield.  Considering the third casino in CT on the CT/MA border, New York State casinos, and Wynn in Boston taking away VIP’s from all of New England’s casinos, one has to see the importance of a MGM property in Bridgeport – not for the betterment of CT residents, but especially for a worried MGM in their northeast expansion.

Speaking of Traffic…

Raise your hands out there if you have driven I-95 from New Haven to the New York State line, vice versa.  C’mon, raise ’em up.

That’s right – it’s horrible.  For commuters, it’s not just driving to work – it’s a non-contact (or sometimes contact) sport. Well guess how that traffic will be if a casino is built in Bridgeport.  Traffic concerns will be exponentially worse – not even considering the 40-mile parking lot it will become on the weekends. MGM has offered no financial help for the already inadequate infrastructure of I-95.  An example of what to look forward to is MGM’s beautiful MGM National Harbor around Washing D.C. When it opened, vehicular traffic to the doubled from 90,000 cars, buses and trucks a week to an astounding 180,000, according to Courtland Milloy of the Washington Post. “The casino has a pretty slick traffic plan once you get on the property, but off-site, it’s nothing more than a nightmare,” so his article says. Expect the same on I-95.

The Cart Before the Horse

There’s one little thing in the way of this proposal.  Right now it would be illegal to build a casino – and heartless to build the hopes of the people of Bridgeport. James Murren said the casino “can help to turn the economic tide of this state [CT]”  The plan requires a change in state law that limits the right to build casinos to the Mashantucket Pequot and Mohegan tribes, owners of Foxwoods and Mohegan Sun.  CT Governor Dannel Malloy said “if the state violates the compact with the tribes, it could lose nearly $500 million over the next two years in revenue from the tribes’ two casinos.” The state gets 25 percent of the slot machine revenue from Foxwoods and Mohegan Sun under the compact.  It’s difficult to have to decide between the future economic well-fare of Bridgeport, and the future economic revenue for Connecticut, which Bridgeport would receive benefits from.

MGM, the Casino Industry Powerhouse

Finally, let’s not forget MGM International is a business – a very good business.  Jim Murren has built MGM to a giant in the casino and entertainment industry. It’s power and financial backing is not to be taken lightly.  It’s very difficult to not have a love-hate relationship with MGM International. Here’s how I see it:

  • They offer some of the greatest Hotels & Casinos in America. (Love it)
  • They single-handedly started the demise of the tradition free parking on the Las Vegas Parking (Hate it)
  • They offer some of the best entertainment venues in the country (Love it)
  • Their lack of concern for gambling rules and limits makes it difficult for low to mid rollers (Hate it)
  • They will help the city of Springfield rise from it’s ashes, with the watchful eye of the Massachusetts Gaming Commission (Love it)
  • They have said it themselves – MGM is an entertainment company, not a casino company. This does not bode well for cities like Bridgeport looking to raise revenue (Hate it)
  • MGM does create jobs with their casino/resorts.(Love it)
  • MGM seems to be a bully when pushing for casinos in states by excessive lobbying, negative television, mail propaganda, and time consuming tactics to get what they want, not necessarily what’s good for those involved. (Hate it)
  • MGM seems intent on keeping Borgata in Atlantic City the same, as the #1 AC property.(Love it)
  • MGM Supported anti-casino expansion groups in CT over the proposed 3rd casino in East Windsor, only now, having to face them  supporting casino expansion in CT. (Hate it)

The Final Draw

It is still illegal.  Massive changes and considerations are involved. MGM wants you to think it’s the only answer.  The fact is their answer is a stalling tactic on the never-ending suit with the state of CT – rejected by the courts twice already.

Once upon a time, owner of the New England Patriots, Robert Kraft, was close to moving the Patriots to Hartford.  It was a scam to get more out of Massachusetts interests to build Gillette Stadium and keep them there.  There are still many that hold a grudge for using CT residents as pawns in his own scheme.

Mr. Murren, please don’t do the same to Connecticut.  People will remember, and MGM Springfield may end up getting the brunt of the Nutmeg State’s ire and resentment.

Binbin

 

 

 

NETime Gambling – 5 Top Posts From July

As the WSOP begins to wrap up, the great Doyle Brunson starts us off today with a gambling quote.  Now we know why he was THE  historic poker icon he was!

Another Sunday Morning, and another Sunday edition of 

“Weekly Posts You Missed”  

“Easy like Sunday Morning….”   As you open the paper, check your email, and relax with your cup of “Joe,” let your Sunday morning ritual include checking our past week’s posts.  SO, HERE ARE THE TOP 5 POSTS FROM THE PAST TWO WEEKS.

(Saturday, July 8th) Stadium Gaming Arrives at Foxwoods –  

“It’s been down to some extent for the last eight or nine months…We put in a high-speed slots floor with all the technology that entails. We laid tens of thousands of miles of cable, changed the carpet, changed a lot of the slots chairs, reconfigured our high-limit lounge and added our first electronic table game arena.” (Felix Rappaport, Foxwoods CEO)………..


(Monday, July 10th) Craps Players Have the Most Fun – 5 Reasons

….. here are five reasons craps players have more fun than any other table games.


 (Wednesday, July 12th) Momentum Players Club @ Mohegan Sun – Updated!

Here are some basics for Mohegan Sun’s Momentum Club.  Statistics are based personal experience and search,  vpFree2, and Mohegan Sun’s Momentum website…….


(Friday, July 14th) Old Slot Machines – Where Do They Go? 

So, as years go by, new slots take the place of older machines on the casino floor.  It begs the question, “Where Do the Old Slot Machines Go?”


(Saturday, July 15th) Twin River Casino Hotel Breaks Ground

Finally, Twin River Casino in Lincoln, Rhode Island is starting to build it’s hotel – and none too soon!


Tomorrow, I look at another casino Players Club – Penn National’s “Marquee Rewards.”  Penn National Gaming has made some moves in recent years to make their players club unique in some ways and open to many more options than most other casinos in New England.  Check-in to see and compare to the others.

Binbin

 

 

 

Connecticut Casino Revenue Decline is a Sign For Action

And so it goes……according to Patricia Daddona of the Hartford Business Journal, Mohegan Sun and Foxwoods Resort Casino saw their combined gaming revenue slide 7.5 percent between 2013 and 2015, but Connecticut still had the sixth largest tribal casino industry in the U.S., behind tribal casinos in California, Oklahoma, Florida, Washington and Arizona.  Considering Connecticut has 2 compared to the rest with number far greater than two (California-69, Oklahoma – 124, Florida – 8, Washington – 32 and Arizona-25), the Mohegans and Pequots are getting along quite well.

Mohegan Sun

This report is concerned with the years 2013-2015, but the CT casinos revenue decline since the recession of 2007 and before has been well documented.

This should be yet another wake-up call for speeding up the decision whether or not to build another casino or two, depending which bill (or both, or none,) are accepted. A reminder to the Nutmeg Legislators – that report’s stats reflected a time frame before Massachusetts’ first casino, after Rhode Island’s Twin River had begun table games, and Newport Slots moving to Tiverton.

The Atlantic City Hilton, one of the first to go in AC

Connecticut should take note of what happened to Atlantic City.  AC did nothing when CT’s tribal casinos cut into revenue.  AC did nothing when Pennsylvania and NY got into the game of casino expansion. Now, only seven casinos in AC remain.  Just plug in CT for AC, switch PA & NY with RI, MA, & NY – same scenario?

The CT General Assembly has also urged legislators from Connecticut to approve the measure soon. Andrew Doba, a spokesman for the tribes, said: “When Rhode Island launched its industry, we did nothing. When New York got into the game, we did nothing. We’ve got a choice now, continue to do nothing, or fight and save good paying jobs.”

Foxwoods Resort

Foxwoods Resort / Casino

In recent years, the good news is that revenue has stabilized a bit in CT, more so at Mohegan Sun.

According to economist Dr. Alan Meister, “Indian gaming experienced strong growth in 2015, with revenues across the nation at reservation casinos surging 5.5 percent compared to 2014. It marks the fifth straight year Native American gambling income has increased, a stark contrast to Connecticut.”

Why that “stark contrast?”  Saturation and convenience casinos.  Connecticut’s loyal base is being pulled in every direction.

Twin River Casino. Larger than most people realize – two large casino floors

Rhode Island – Twin River still has no hotel, yet.  Even though it is close to Providence, no hotel means it & Newport (moving to Tiverton) are both convenience casinos – albeit, TR is one mega-convenience casino!  With hotels (Tiverton will include a hotel), they will become destination casinos, less than an hour away from CT’s tribal casinos.

Massachusetts – one slot parlor in Plainville, and two resorts with Wynn and MGM Springfield give CT reason to worry.

A bird’s eye of MGM Springfield progress, ahead of schedule.    (courtesy of wwlp.com)

New York – there is still consideration for a casino to be built in the Meadowlands area outside of NYC.  Just over the NY/CT border, there are now four casinos within a 20 minute drive, including the new Rivers casino just northwest of the CT/MA border.

Since the waiting game hasn’t paid off in the previous ten years, it certainly not the time to wait now.