MGM Resorts scraps plans for casino in rural BrimfieldApril 02, 2012 8:05 PM by Ray Poirier
While the Wynn-Kraft partners continue to focus on Foxborough as the site of a Massachusetts casino, MGM Resorts International (MGM) has scrapped its plans for a casino in rural Brimfield.
In announcing its withdrawal from a partnership with the Rolling Hills Realty Trust, MGM’s Bill Hornbuckle issued a statement saying, "The unique nature of MGM’s plans for an all-inclusive world-class resort on the Brimfield site, and our growing understanding of the needed scope for its infrastructure, simply does not allow us to pursue the comprehensive MGM resort originally envisioned here."
The Brimfield site is adjacent to the Massachusetts Turnpike but has no direct access from the highway.
Some analysts believe the withdrawal will benefit Ameristar Casinos Inc. (ASCA) which has a site in Springfield.
Meanwhile, Bob Kraft, owner of the New England Patriots and owner of the site selected for a casino adjacent to Gillette Stadium, is involved in a dispute with the town of Foxborough over two billboards that sit on the company’s land.
Atlantic City’s casino industry saw its operating profits rise in the third quarter of this year, helped by Internet gambling money and the absence of large losses racked up last year by weaker casinos.
Caesars Entertainment Corp. (CZR) has reached an agreement with its most-senior lenders on a restructuring plan that includes turning its largest unit into a real estate firm, according to a report this morning from Bloomberg.
Sproles player to watch | Berg gives out three players for Thanksgiving daily fantasy leagues.
Pokin' Around | At age 65 and nearly 12 years removed from his last NFL head coaching job, the fire still burns within Jim Fassel. He’s just waiting for the right offer.
New Jersey Gov. Chris Christie’s hope that a private operator would boost the state’s lottery proceeds seems to be dwindling as revenue declined 9.2% during the period between July 1 and Oct. 31.