MGM Resorts International Cost: $750-850 million
Location: South End of Springfield's downtown on 10 to 15 acres generally bounded by Main Street and East Columbus Avenue
Casino/development space size: 89,000 sq. ft. of gaming space; 40,000 sq.ft of residential space; 10,000 sq.ft. spa
Number of jobs created: 3,000 permanent jobs promised by opening
Hotel size/rooms: 250-room hotel, 25 floors
Number of tables/slots: 2,700 to 3,000 slots; 75 gaming tables, 25 poker tables
(Contributed photo)
? Penn National Gaming Cost: $807 million
Located on 13.4 acres in North End of Springfield's downtown, including properties owned by The Republican and Peter Pan Bus Lines
Casino/development space size: 300,000 square foot casino complex; 100,000 square feet of gaming space
3,000 to 3,500 slots; 80 to 100 table games; 20 to 30 poker tables
Hotel size/rooms: 250-room hotel
Number of tables/slots: 3,000 to 3,500 slots; 80 to 100 table games; 20 to 30 poker tables
(Contributed photo)
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SPRINGFIELD ? Mayor Domenic J. Sarno announced Monday that he will launch negotiations with both companies proposing to build casinos in Springfield, rather than pick one firm now.
Sarno said he made the decision to negotiate with MGM Resorts International and Penn National Gaming, after conferring with his two advisory committees and city consultants.
?I have decided that both proposals have qualified to proceed to this next step in the selection process,? Sarno said.
The city expects negotiations will begin as soon as possible, Sarno said.
MGM Resorts is proposing a casino in the South End, while Penn National is proposing a project in the North End of the downtown district.
The negotiations do not mean the city will reach an agreement with either company, but trigger the launch of formal negotiations, Sarno said. During the course of negotiations, the city may reach an agreement that differs from the detailed plans submitted by the two companies, he said.
Any agreement reached with either company will require approval from the City Council and from city votes on a future election ballot. City officials say a ballot vote could occur as early as late June.
City officials have stated that one casino proposal could be placed on the ballot, or possibly both. Once approved by voters, the Massachusetts Gaming Commission would have final approval of one project in the region.
MGM and Penn have both proposed casinos with an estimated cost of more than $800 million.
In addition, the owners of the Mohegan Sun are proposing a casino in Palmer off the Massachusetts Turnpike and the Eastern States Exposition in partnership with Hard Rock International are proposing a casino on the exposition grounds in West Springfield.
The Massachusetts Gaming Commission plans to approve up to three casinos in the state including one project in Western Massachusetts.
Sarno had set Monday as the deadline for deciding if he was going to negotiate a casino agreement, known as a host community agreement, with either MGM or Penn, or both companies.
Sarno had appointed two review committees to consider the casino proposals. One committee consisted of key department officials and the other were citizen appointees.
Sarno said he will negotiate the community host agreements with Blue Tarp Redevelopment LLC, an affiliated of MGM, and with Springfield Gaming and Development LLC, a joint venture between an affiliate of Penn National Gaming and its local partner, Peter A. Picknelly.
This story will be updated as our reporting continues
Source: http://www.masslive.com/news/index.ssf/2013/02/springfield_mayor_domenic_sarn_64.html
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