PALMER, MA-Mohegan Sun on Tuesday put a name to its proposed Western Massachusetts casino project, to be known as Mohegan Sun Massachusetts. The announcement coincided with CEO Mitchell Etess' revelation at a public forum that his company would add $175 million in amenities to the project, boosting its price tag to $775 million.
The gaming company aims to be the first casino operator to open for business in Massachusetts. “Our project represents the best opportunity for the state to benefit from gaming in Western Massachusettts,” Etess says in a statement. “And it's our intent to be a founding partner of the casino gaming industry in the Commonwealth.”
Currently the state has just three casino licenses available, one for each geographic region. In the western part of the state, Mohegan Sun's proposal for Palmer faces competition from Penn National Gaming and MGM Resorts International, each looking to build in Springfield; and from Hard Rock International, which is proposing a casino project in West Springfield.
For its part, the Uncasville, CT-based Mohegan Sun cites its New England origins as an advantage, compared to competitors based outside the region. Further, according to a release, the company sees itself as “the only operator with experience developing the type of rural destination gaming experience that patrons in this region have come to value and prefer over the past 20 years.”
Further, the release points to Mohegan Sun's recent alliance with Brigade Capital Management, a $12-billion investment advisor based in New York City. Through this agreement, Brigade will invest capital into the project.
“Brigade Capital Management will be a great partner and important asset to this project,” Etess said when the alliance was announced in January, coinciding with Mohegan Sun's formal application to the Massachusetts Gaming Commission for a license. “They are experienced as institutional investment partners on gaming projects in several states across the US, and understand the business that Mohegan Sun has been successful in for 16 years.”
Mohegan Sun plans to build on a 151-acre site off Route 32 in Palmer. There, the plan calls for a 600-room hotel and spa, casino gaming and branded retail stores and restaurants.
The Mohegan Sun Massachusetts logo unveiled on Tuesday incorporates a railroad track motif, reflecting the history of Palmer, known as the “Town of Seven Railroads.” Further, the town's history is also highlighted in some of the architectural features of the project, the release states.
In January, the project received the endorsement of the Quaboag Hill Chamber of Commerce, which serves the business communities of 15 towns including Palmer. Mohegan Sun says it's far along in host community agreement talks with the Town of Palmer, and plans to continue building support at the local level as the community prepares for a referendum election.
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