The state gaming commission of Massachusetts is currently reviewing three proposals sent in by developers to construct casinos in the state. One of those proposals was from Mass Gaming & Entertainment who want to construct a $650 million casino and hotel at the Brockton fairgrounds.
The state gaming commission confirmed on the 16th of March that Mass Gaming & Entertainment had submitted all the requirement personal and financial documentation for review and the commission concluded that the proposal was “substantially complete”. This basically means that the commission has concluded that all documentation was in order and only background checks remain pending. The residents of Brockton are scheduled to vote on the casino proposal on the 12th of May.
Two other developers have not been able to meet the deadline set by the commission and have requested for a deadline extension. The legal team for KG Urban Enterprises has asked New Bedford Mayor Jon Mitchell for a 45 day extension as they are still negotiating a deal with Foxwoods Casino operators.
KG Urban have proposed to build a casino on the New Bedford waterfront and is in the process of finalizing an agreement with a Connecticut-based Foxwoods to run their new casino. The deadline extension will most likely cause an impact on the project’s financing and the company will have to update potential investors before moving forward. Mayor Jon Mitchell has not been very keen in approving KG Urban’s proposal as he earlier asked the company to make significant changes to the proposed design and layout.
The second developer has put in a proposal to construct a casino in Somerset and has requested the commission to grant them more time to finalize their proposal. The state gaming commission is yet to make a decision on whether to extend their deadline or decline the proposal. They will make a final decision on the 19th of March. Save the following link to watch the meeting live at 10:30am EST.
It was announced today that Jim Karam, a Massachusetts real estate developer and former president of the University of Massachusetts Board of Trustees has joined the Somerset project along with Scott Butera, former CEO of Foxwoods Resort Casino from 2011 to 2014.