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

Region C – Southeast Mass License Update

B8K0zt1CAAADoEl
As of this weekend in Massachusetts, there are three Region C (Southeast) applicants – four if you count the Wampanoag Tribe.  Above you see a great illustration of existing, licensed and possible choices for the one Region C casino, thanks to Massachusetts Gaming Commission and provided by the Providence Journal.
According to the State House News Service, while the Massachusetts Gaming Commission has signed off on licenses for proposed casinos in Everett and Springfield, as well as a slots parlor in Plainville scheduled to open in June, they do not necessarily have to approve a casino for southeastern Massachusetts.

MashpeesUncertainty has surrounded Region C, since the Mashpee Wampanoags are still waiting to see if a federal application for taking land into trust for the tribe will be approved, allowing them to set up a resort casino in Taunton.  If that does occur, which the Wampanoags have been waiting for since the Casino Law passed, the size and scope of their casino, the timing of border states expansion of casino gambling, and economic recovery in the region could cause the MGC to not accept any licenses for Region C.

Developers are seeking to build resort casinos in Somerset, Brockton and New Bedford.  The MGC voted to give two of the groups — the Somerset and New Bedford camps — extensions until May 4 to file applications.

In case you have lost track of the players and places, here’s a review:

Mass Gaming & Entertainment, the company seeking to build a casino in Brockton, has filed a “substantially complete” application, meeting the commission’s deadline. Mass Gaming & Entertainment, which is affiliated with Rush Street Gaming, already has a host-community agreement with Brockton and a referendum vote scheduled in that city.

KG Urban Enterprises, which is seeking a casino on the New Bedford waterfront, has been in the game since the day the legislation passed in 2011. They are seeking help from Foxwoods to Run their casino.

Somerset on the Move LLC, is now working with Crossroads LLC, a company that had a failed bid in Region A.

That’s all for now.

Binbin

Southeastern Mass License Up for Grabs

MASS

Four applicants are now on the short list of possible licensees for the last Massachusetts Casino, beginning with a prominent executive who ran casinos in Atlantic City and Las Vegas to a Brookline woman with little industry experience – and Foxwoods or Mohegan Sun are not included.  I guess, Foxwoods is concentrating on it’s debt, while Mohegan Sun figure three strikes and it’s out – or at least not interested – of the expansion business for the time being.  What a group!  Do you notice any names missing?  How about some of the top gambling industry names in America – Affinity Gaming, Boyd Gaming, Gold Strike, Pinnacle Gaming, Sands Corp?  Could a mixture of saturation and already too many big names be too much to compete with?  Between New York City to Bangor Maine, you will be able to find Resorts World (Gentry), Penn National, MGM, Wynn, Foxwoods & Mohegan Sun.  Quite the line-up – that might scare any serious contenders away!

So, who wants that last license?  It’s quite an array of applicants: Continue reading