MGM Springfield Provides MassGaming with Details on Casino Project Modifications
Officials for MGM Springfield introduced on the Massachusetts Gaming Commission with details about the proposed changes to the $950-million hotel and casino resort the gambling operator is building in downtown Springfield thursday.
The stated adjustments include the replacement of the 25-story cup hotel tower having a 6-story structure and a 9% reduction in the task’s overall square footage. MGM Springfield officials told MassGaming Chairman Steve Crosby and the four commissioners that if approved, the said changes would improve effectiveness, meet customer needs, and remove space that is unnecessary.
Seth Stratton, Vice President and General Counsel of MGM Springfield, also provided state gambling officials with an increase of information about the $150-million upsurge in costs. According to the initial plan, the construction for the MGM Springfield casino resort might have cost $800 million. Following a design modifications and other matters that are related the gambling operator is currently likely to invest an approximate of $950 million.
Mr. Stratton explained that the costs consist of $614 million for construction and furnishings, and much more than $335 million for different land improvements, application and permit costs, host community agreements, and a whole lot more.
During the Thursday meeting, Commissioner Enrique Zuniga stated that the increase in expenses had been a serious matter and that he expected more comprehensive information about it.Continue Reading..