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.
Caesars CEO Gary Loveman continues to see Caesars Interactive as a “shining Star” within the company as social and mobile games continue driving revenue increases.
The dividends paid by publicly traded casino companies doing business in Macau are expected to be “slashed across the board,” according to a Bloomberg news report quoting an analyst who has been tracking the situation.
Baseball Previews | This is the third of 30 MLB previews to the 2015 baseball season as seen by GamingToday sports editor Mark Mayer. Today, the Baltimore Orioles. On deck: Chicago White Sox.
They are at it again in Florida where there is a proposal before legislators to allow two destination resort casinos, each with an initial investment of $2 billion.
It will make a big difference, CEO Gary Loveman said this week as he discussed plans to combine the real estate owned by Caesars Entertainment Operating Company into a publicly traded real estate investment trust.