The Deadline of New Bedford Casino Developer

Property developer KG Urban, which proposed building a $650 million casino in New Bedford Waterfront in southeastern Massachusetts, announced at Monday’s meeting that it had secured enough funds for the project before the May 4 deadline previously set by the Massachusetts Game Commission.

The New York-based developer also noted that two other partners, the gaming and leisure property, a gambling operator who proposed a casino in Milford in 2013, and former Foxwood CEO Scott Butera, were involved in the project. 슬롯머신

John Mitchell, mayor of New Bedford, said in a letter to the state’s gaming regulator that the city was “excited that this project could now move on.”

The Massachusetts Game Commission said licenses would be awarded to build casinos in the Southeast only after at least two developers submitted their applications.

As previously reported, KG Urban needed several months and three extension of the deadline before submitting the funding plan required for the project. The latest deadline expired at 5:30 p.m. on May 4, but the company announced that it had secured funds for real estate construction on time.

Mass Gaming & Entertainment, a property developer that proposed a $650 million casino in Brockton, resubmitted the required documents in January. Game operator Rush Street Gaming and owner George Carney of Raynham Park, a gambling facility that simultaneously races dogs on other properties, are working together on the project. Mr. Carney also owns the site where Brockton Casino will be located. If approved by the state.

Crossroads, the third bidder for a casino in southeastern Massachusetts, has asked for another extension of the deadline for applications. The Massachusetts Game Commission said it would review the request and announce its decision at a later public meeting. If the developer gets an extension and gets a license, it will build a gambling house in Somerset.

Residents of New Bedford will vote on the casino project on June 23. Brockton voters will be given the opportunity to state their opinion on whether they want a gambling house in the area on May 12. Somerset has yet to set a citywide voting date.

The state’s gambling regulator is expected to announce its final decision on which of the three bidders will be granted a third Massachusetts casino license by the end of 2015. MGM Resorts and Wynn Resorts have already been granted $800 million permission to build a resort in Springfield and $1.7 billion in Everett, respectively.

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