MGM Springfield Provides MassGaming with Details on Casino Project Modifications
Officials for MGM Springfield provided on Thursday the Massachusetts Gaming Commission with facts about the proposed modifications to the $950-million hotel and casino resort the gambling operator is building in downtown Springfield.
The stated alterations consist of the replacement of a 25-story cup resort tower by having a 6-story structure and a 9% lowering of the project’s overall square footage. MGM Springfield officials told MassGaming Chairman Steve Crosby and also the four commissioners that if approved, the said changes would improve efficiency, satisfy consumer demands, and remove unnecessary room.
Seth Stratton, Vice President and General Counsel of MGM Springfield, also provided state gambling officials with additional information about the $150-million boost in costs. Based on the plan that is initial the construction of the MGM Springfield casino resort might have cost $800 million. Following a design modifications and other matters that are related the gambling operator is now anticipated to invest an approximate of $950 million.
Mr. Stratton explained that the expense consist of $614 million for construction and furnishings, and more than $335 million for various land improvements, license and application fees, host community agreements, and many more.
Throughout the Thursday conference, Commissioner Enrique Zuniga said that the rise in costs was a severe matter and that he expected more comprehensive information about this. Continue reading